Meghalaya's revenue expected to increase post FRBM implementation
SHILLONG, May 21 -- Chief Minister Conrad K Sangma on Thursday said the state is expected to increase its own revenue resources by Rs 600 to Rs 700 crore once the fiscal responsibility and budget management (FRBM) is implemented.
"The state government had requested the Government of India to allow us to increase the FRBM from 3 percent to 5 percent. We hope we will be able to increase our own state resources by Rs 600 to Rs 700 crore once FRBM is implemented," Sangma said while replying on the budget discussion in the Assembly.
He said the COVID-19 pandemic and the imposition of lockdown to contain its spread, has adversely affected the economy of the country as a whole with a corresponding impact on the revenue collection of both the c...
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