Hn_Ani_Sohra_Cm_Conrad_Sangma_Chairs_07-17-34

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Transcript

00:00bill for the Meghalaya's Ceiling on Government Guarantees Bill 2025. As you are aware, that

00:07government time to time guarantees the loans taken by different government agencies like

00:15MECL or MTDC or MTC. So the loans are taken by these agencies, but the banks sometimes

00:24require the government to guarantee these loans. And we have done this for many organizations,

00:31mostly MECL. But this was done without a proper, you can say, mechanism or structure. And hence

00:39Government of India, especially the RBI, has asked different governments, state governments

00:44to come up with an act that would put a ceiling or a structure overall to these government

00:50guarantees that are there, which means how much can a state government give in a particular

00:54year, how much can a government guarantee for loans taken by different agencies, up

00:59to what limit, what are the rules to be followed, so on and so forth. This particular act will

01:06define the Meghalaya Ceiling on Government Guarantees. So therefore, this bill today

01:12was brought in the cabinet. We have passed it and accordingly we will be presenting it

01:16in the assembly during the budget session, to be clear. We have also today passed the

01:29amendment to the Meghalaya Fiscal Responsibility and Budget Management Act, 2006. This is being

01:36done to allow the state governments, as per Government of India's provisions and permissions,

01:42to have the fiscal deficit from 3% to 3.5%. So Government of India has allowed state governments

01:53and this is being done annually. So for this year also, we will have to amend the Fiscal

02:00Responsibility and Budget Management Act to allow, as per Government of India's permissions,

02:06to allow our fiscal deficit to go up to 3.5%. Also, we have taken a decision today for the

02:16New Shillong Water Supply Scheme for DRDA, that is the Deputy Commissioner, to facilitate the

02:31process of land required for the New Shillong Water Supply Scheme, the small package of land

02:38required by the PHE Department. So the DRDA, that is the District Deputy Commissioner, will be the

02:46authorized agency to accordingly do the necessary purchase and this was again approved by the

02:52Cabinet today. We have also decided to repeal the Meghalaya Civil Service Commutation of Pensions

03:06Rule, 1992 and bring out a new rule. These are basically rules that are pertaining to the

03:14commutation of pension for pensioners of all the government employees and there were certain areas

03:22of concern and certain, you can say, different processes that were very complicated and those

03:33processes have now been refined and we are completely changing the rules and the idea

03:41is to make the commutation of the pensions easier for the retired employees, the pensioners,

03:49and those particular new rules, all have been repealed and a new rule today has been passed.

03:54This will make the entire process of commutation of the pensions much simpler and much easier for

04:01the government employees. We have also decided that under the Assured Career Progression Scheme,

04:10the ACPS scheme, where you are aware that if there is no provision for

04:19the ACPS scheme, you are not eligible for the ACPS scheme, you are not eligible for the ACPS scheme,

04:26you are not eligible for the ACPS scheme, you are not eligible for the ACPS scheme,

04:31you are not eligible for the ACPS scheme, you are not eligible for the ACPS scheme,

04:35you are not eligible for the ACPS scheme, you are not eligible for the ACPS scheme,

04:39you are not eligible for the ACPS scheme, you are not eligible for the ACPS scheme,

04:43you are not eligible for the ACPS scheme, you are not eligible for the ACPS scheme,