Meghalaya Chief Minister Dr. Mukul Sangma on Monday presented a deficit Budget of 419 crore rupees for the year 2011-2012, in the budget session of the Meghalaya Legislative Assembly. Delivering the budget speech Dr. Sangma, who is also in charge of finance informed the House that the fiscal deficit in the state budget for the year 2011-2012 is 419 crore rupees which is around 2.5 % of the Gross State Domestic Product and exceeds the previous deficit in the 2010-2011 budget by 43 crore rupees.The chief minister informed the members of the House that the total receipt for the financial year 2011-2012 excluding borrowings and other liabilities is estimated to be 5624 crore rupees while the total expenditure excluding repayment of loans and other liabilities has been estimated at 6043 crore rupees.Referring to the Plan Grants from the Center, the chief minister informed the House that 3078 crore rupees is expected from the Center which is 785 crore rupees more than that of the current year. Coming to the State’s Own Revenue, the chief minister estimated the revenue to be earned by the state during 2011-2012 at 980 crore rupees which is 257 crore rupees more than that of the current year.