Stunning Surge: Meghalaya’s Tax Revenue Skyrockets from Rs 1,450 Crore to Rs 3,217 Crore – A Triumph for Growth!

Meghalaya Chief Minister Conrad K Sangma, during a pre-budget consultation for FY 2025-26, highlighted significant growth in the state’s revenues. Since 2018, Meghalaya’s own tax revenue has more than doubled from Rs 1,450 crore to Rs 3,217 crore. Excise revenue has similarly grown from Rs 199 crore to Rs 458 crore over six years, with expectations to surpass Rs 520 crore this year. Sangma credited this growth to the government’s efforts to address loopholes and enhance revenue collection, especially within the excise sector, emphasizing the role of technology in minimizing financial leakages. “From Rs 199 crore to Rs 500 crore reflects the commitment of this government,” he stated, underscoring the importance of technological implementation for efficient monitoring.

Turning to education, Sangma revealed that the state has increased its budget for schools and higher technical education, boosting expenditure from Rs 1,085 crore to Rs 2,338 crore—a 14% rise. Over the past four years, nearly 2,500 schools have received new or renovated buildings. Notably, the Shillong Medical College is set to commence operations by September-October 2025. However, the Tura Medical College faces staffing challenges, especially in securing doctors and professors, though efforts are in place to resolve these issues.

Sangma advocated for more private investment in education, promoting the establishment of private universities and anticipating further developments soon. He acknowledged the complexities hindering the education system but remained optimistic about improvement through continued efforts and strategic planning. “It requires a lot of efforts to untie the knots,” he noted, emphasizing the intricate balance needed in education reform to ensure financial stability and quality enhancement. This proactive approach aims to bolster the state’s educational infrastructure and outcomes in the coming years.

Original Source: https://www.indiatodayne.in/meghalaya/story/meghalayas-tax-revenue-increased-from-rs-1450-crore-in-2018-to-rs-3217-crore-sangma-1169881-2025-02-13?utm_source=rssfeed
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Publish Date: 2025-02-13 08:11:00