Shillong, Sept 10: The Meghalaya Cabinet today approved the amendment to the Meghalaya Fiscal Responsibility and Budget Management (MFRBM) Act in the form of an ordinance.
Addressing media persons after the meeting, chief minister Conrad K Sangma said as per direction from the Central Government, this amendment has been done and the ordinance will be regularised in the upcoming autumn session of the Assembly, which will commence from September 9.
He said the amendment was made in order to increase the overall fiscal deficit from 3.5 per cent to 4 per cent which was as per the guidelines and instructions of the Finance ministry.
Related Posts:
The cabinet has also approved the Meghalaya State Consumer Protection (Mediation) Rules to ensure speedy justice.
Sangma said, “The idea of framing these rules is to ensure that any consumer issues or protection issues that are there, these arbitrations can be done at the district level so that this doesn’t have to come always to the appellate authority and small cases can always be resolved and mediated at the district level itself.”
He informed that the cabinet has also approved the Meghalaya Goods and Service Tax Ordinance, 2022, which will be placed in the Assembly.
He added that these are basic amendments that are made in line with the decisions that are made by the GST Council.
Meanwhile, the cabinet also approved the Meghalaya Professions, Trade, Callings and Employment Tax.
“The idea is very simple. It is in line with the ease of doing business and ensuring that there is the proper mandatory registration of the different professions that are there. This particular amendment is being done to ensure that the registrations are made mandatory,” the CM stated.
