Union Finance Minister Nirmala Sitharaman on Friday underscored the substantial rise in central financial support extended to Meghalaya over the last decade, particularly in tax devolution. Addressing the media, she stated that between 2014 and 2024, Meghalaya received ₹48,883 crore in tax devolution—a staggering 572% jump from the ₹7,273 crore it received between 2004 and 2014. Similarly, grants-in-aid more than doubled, increasing from ₹19,700 crore in the earlier decade to ₹40,452 crore in the last ten years.
Post-COVID, the Centre has prioritised economic recovery through capital investments, she noted. Under the Special Assistance to States for Capital Investment (SASCI), ₹5.3 lakh crore was sanctioned as 50-year interest-free loans, with ₹48,804 crore allocated to the Northeast. Meghalaya received ₹5,471 crore. Initially untied, later installments were linked to performance benchmarks.
Sitharaman added that all northeastern states have used these funds for capital asset development. She also highlighted reforms such as digitised public finance systems (SNA-SPARSH), land pooling in industrial zones, and hostel infrastructure for women and migrant workers. Digitisation of land records has improved credit access and legal clarity, particularly benefiting rural and tribal communities.
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