1000 Days of S. C. Marak Financial Recovery

A major achievement of the Government led by Mr. Salseng C. Marak has been the turn – around of the State finances in 1994-95. The Govt. did not merely overcome the crisis it faced from the day it assumed office in 1992-93 but also took it as a challenge and opportunity to restore the position of Meghalaya once enjoyed as one of the best financially managed states in the country.

Some statistics must be stated first. The year 1992 – 93 ended with a deficit of about Rs. 60 crores, a crippling figure for a small state with a meager and very narrow resource base. The 1993-94 budget passed by the Assembly reflected a gap of Rs. 90 crore in addition to the aforesaid opening deficit. Since matching funds were not forthcoming, except Rs. 48.87 crores granted by the centre as Advance Plan Assistance and recoverable Ways and Means Advance, the Government had embarked on a two fold strategy of raising its own resources and curtailing all unnecessary expenditure. This was enforced with a degree of ruthlessness never seen before in the state.

The Ministers had foregone pilot cars and escorts. The official tours and entertainment were reduced to a minimum. A drive was launched to mop up revenues. These measures enabled the Govt. to close 1993-94 with a deficit of only Rs. 75 crores including the opening deficit of Rs. 60 crore. This was quite commendable though the state lapsed into overdraft from time to time.