Shillong: Meghalaya Chief Minister on Thursday presented the Budget 2023-24 with a fiscal deficit of Rs 1,592 crore, which is around 3.42% of the GSDP.

The state government estimated interest payments for the Fiscal Year 2023-24 at Rs 1,169 crore and pension payments at Rs 1,794 crore.

Presenting the budget, Sangma said the GSDP of Meghalaya is expected to grow by 11.5% to Rs 46,600 crore for the next financial year.

"The share of central taxes is the most important component of the receipts for the state government. The revised estimates for the share of central taxes for the current financial year is projected at Rs 7,386 crore. This is about 18% higher than the budgetary estimates of Rs 6,264 crore," said Sangma.

The Meghalaya government also approved the bill for over Rs 1,804 crore in supplementary demand and appropriaciation under various departmental heads.

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