Sikkim's budget soars 109% to Rs14,490.67 crore as state marks 50 years

Chief Minister Prem Singh Tamang presented Sikkim's 6th consecutive annual budget, showcasing a remarkable 109% increase since 2018-19, with allocations reaching Rs 14,490.67 crore for the fiscal year 2024-25. This financial boost coincides with Sikkim's golden jubilee celebration of statehood, themed "Sunaulo Sikkim, Samridha Sikkim- Samarth Sikkim."

The state's GDP is projected to exceed Rs 50,000 crore, marking an 85% increase since 2018-19. The government has maintained the fiscal deficit at 3.5% of GSDP and allocated Rs 40 crore to address pension disparities. The budget prioritises several sectors, with education receiving 13%, land revenue at 9%, rural development at 8%, health at 6%, and social security and development at 5%. Tourism, electricity, and roads each received 4% of the allocation.

Tamang outlined several revenue enhancement initiatives, including modernising border systems, strengthening the GST database, and implementing an e-Abkari project for online excise transactions. These measures aim to improve revenue collection and prevent leakages.

Sikkim has achieved notable national rankings, placing 4th in poverty alleviation with only 2.6% of the population below the poverty line, 7th in higher education enrollment with a 38.6% gross enrolment ratio, and 4th in digital advancement among smaller states. The state has also made significant progress in Sustainable Development Goals, particularly in clean water, sanitation, and court density.

External aid plays a crucial role in Sikkim's development plans. The Asian Development Bank has approved $180 million for urban projects and $148.5 million for power distribution modernisation. The World Bank is providing $100 million for the Sikkim INSPIRES programme, focusing on economic inclusion and job opportunities.

Education initiatives include implementing the National Education Policy 2020 and establishing new model schools. The Chief Minister Merit Scholarship Scheme and assistance for BPL students are also some of the initiatives.

The state's progress is evident in its successful hosting of major G20 events in March 2023 and achievements in Sustainable Development Goals.

The government is also focusing on youth employability through job creation and training programs, healthcare expansion with world-class infrastructure, agriculture innovation, food processing development, and support for micro, small, and medium enterprises.

The state is also advancing its criminal justice system with the Inter-operable Criminal Justice System (ICJS) 2.0. Environmental efforts feature the "Mero Rukh Mero Santati" tree planting programme, while social initiatives include 50% reservation for women in Panchayat elections.