Meghalaya Liabilities Exceed Statutory Ceiling, CAG Report Finds
The Comptroller and Auditor General (CAG) of India has flagged significant fiscal management challenges in Meghalaya in its State Finances Audit Report for 2024-25, tabled in the state Legislative Assembly. While Meghalaya’s Gross State Domestic Product (GSDP) grew 12.03% to Rs 59,626 crore, surpassing India’s GDP growth rate of 9.78%, the state’s per capita income remained more than 26% below the national average. The report noted that Meghalaya continues to depend heavily on the Centre, with 76.99% of its revenue receipts coming from central transfers. Although capital expenditure rose to Rs 5,245.98 crore, the state recorded a post-audit revenue deficit of Rs 52.69 crore, missing its statutory revenue surplus target. The CAG found that a revenue surplus of Rs 72.71 crore reported by th...
