Shillong ( Meghalaya), Mar 10 : In his reply to the Budget discussion, Chief Minister Conrad Sangma clarified misconceptions and concerns surrounding Meghalaya’s loans and debt. Addressing the assembly, CM Sangma emphasized that Externally Aided Projects (EAPs) and Special Assistance to States on Capital Investment (SASCI) are essentially interest-free loans with a repayment period of 50 years.
“These are not burdensome loans that will weigh down our future generations,” CM Sangma assured. “In fact, they are more like free money given to the state, allowing us to invest in critical infrastructure and development projects.”
CM Sangma’s clarification comes on the heels of presenting a Rs 2,029 crore deficit budget for the 2024-25 financial year, dubbed “Mission 10”. The budget aims to make Meghalaya a USD 10 billion economy by 2028.
By addressing concerns around loans and debt, CM Sangma seeks to reassure citizens and promote confidence in the state’s fiscal management.
