Meghalaya Opposition Leader Warns of Financial Crisis Over Government’s Borrowing Hike

Shillong, Meghalaya — Opposition Leader Mukul Sangma has raised alarms over the state government’s recent decision to increase its borrowing limit, warning it could trigger a financial crisis in Meghalaya.

Sangma labeled the move a ‘red flag’ during a press briefing, cautioning that the Meghalaya Democratic Alliance (MDA) government’s approach could lead to fiscal instability. He highlighted parallels between excessive borrowing and individuals burdened by loans they can no longer repay, pointing to concerns raised by the Comptroller and Auditor General (CAG).

In his sharp critique, Sangma accused the government of undermining fiscal responsibility and called for a stringent review of the borrowing process under the Meghalaya Fiscal Responsibility and Budget Management (MFRBM) Act, 2006. His remarks reflect wider fears about the state’s financial management.