Meghalaya’s Chief Minister, Conrad K. Sangma, revealed that the state has seen impressive growth, with nearly 10% real Gross State Domestic Product (GSDP) growth for three consecutive years post-Covid. This growth has positioned Meghalaya as the second fastest-growing state in real GSDP after Tamil Nadu, showing sustained economic momentum. The state’s economic size expanded by 76.5% between FY21 and FY25, indicating significant progress.
The Chief Minister emphasized that Meghalaya’s growth is not reliant on heavy borrowings, with only 7.8% of total receipts in FY24 coming from borrowings, well below the national average of 19.4%. Capital expenditure in the state has been growing at a rate of 16.5% since FY14, surpassing revenue expenditure growth at 11.1%, showcasing a focus on asset creation and long-term development.
Meghalaya’s total state expenditure has risen to Rs 30,948 crore in FY27, reflecting increased development spending and public investment across various sectors. The state has shown strong fiscal efficiency by utilizing 99% of its Budget Estimates in 2023–24, one of the highest rates in the country, indicating effective financial management.
State resources in Meghalaya have been growing steadily, with a Compound Annual Growth Rate (CAGR) of 13.1% over the past decade. Total receipts have also increased by 13.7%, demonstrating a strengthening fiscal base and revenue mobilization capacity in the state.
