‘Tourism will have multiplier effect on Meghalaya’s economy’

SHILLONG, Jun 4: Chairman of the Fifteenth Finance Commission, NK Singh said that the tourism potential of Meghalaya is not only an employment generator for the people of Meghalaya it can also substantially add to the GDP growth for the state’s economy.

He however said that although the chief minister shared some important initiatives which the state has taken to improve the tourism industry in Meghalaya, but he added that much more needs to be done.

“This is also critically dependent on the two or three factors one being improving the road connectivity and opening up Meghalaya’s airspace and being able to encourage the new airport which has come up in increasingly being able to kept commercial flights,” Singh said.

According to the Fifteenth Finance Commission chairman, improving connectivity would be central to be able to attract not only large number of tourists but also high end tourism.

Singh also stated that there is a need to have more hotels being opened in Meghalaya, not only in Shillong but in other places which have equal tourist attraction.

The chairman also stated that the state has potential for organic farming.

According to him, Meghalaya had a reasonable period of time when there was enough fiscal space which it did not utilize that fiscal space by enhancing public outlays.

He also pointed out that the implementation of the 5th Pay Commission, the economy of Meghalaya has been somewhat strained.

“The fiscal deficit has gone up far beyond the FRBM target of 3 per cent. Similarly, debt to the state’s GDP has gone above 30 per cent and so they will have to devise a strategy which can bring about greater medium term macro-economic stability by bringing down both fiscal deficit and bringing down the debt trajectory to be in line with what is happening in the rest of the country,” Singh added.

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