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Meghalaya budget set new benchmark: CM
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SME Times News Bureau | 21 Mar, 2017
Meghalaya Chief Minister Mukul Sangma on Monday said the 2017-18 budget,
which he presented in the assembly last week, will set a new
"benchmark".
"This budget will set a new benchmark for the right
kind of environment that the state requires for the overall
transformation and changes in the socio-economic landscape of the
state," he said while replying during a budget discussion.
"The
budget is inclusive and has taken care of developmental gaps and it will
set a yardstick for future prospects and prosperity of the state. This
Budget has set a new benchmark that the state requires," he added.
Describing
his deficit budget of Rs 1,236 as "balanced" and "realistic", Sangma,
who also holds the Finance portfolio, said the budget will meet the
aspirations of particularly the poor, the rural people, the youths and
the job seekers.
Brushing aside the opposition's allegations that
the government failed to adhere to conditions laid down by Fiscal
Responsibility and Management (FRBM) Act in terms of fiscal deficit, the
Chief Minister said the fiscal health of the state will continue to
remain good.
"The fact that Meghalaya is getting funds under
Externally Aided Projects stands testimony of the fiscal health of
Meghalaya. The issue of debt and debt servicing is regulated and when
the state borrows it cannot be done whimsically," he informed.
However,
the Chief Minister admitted that there has been a dislocation in the
flow of revenue generation of the state due to the National Green
Tribunal ban on coal mining and the number of pronouncements by the
judiciary including mining of minor minerals.
"Notwithstanding all these, there has been a steady increase in the revenue receipts of the state," Sangma said.
"A
task force was also entrusted to ensure resource mobilisation so that
such challenges do not become reason for the government to stop
implementation of various programmes," Sangma added.
The Chief
Minister also noted that the Financial Year 2016-17 was a crucial year
for the state because it is the base wherein the Centre will look at
what are the revenue available with the state prior to implementation of
the Goods and Services Tax (GST).
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