Sikkim presents Rs 8,090.24 cr budget for 2011-12

Sikkim presents Rs 8,090.24 cr budget for 2011-12

Gangtok, Mar 26 (PTI) Sikkim Chief Minister Pawan Chamling today presented a balanced budget and launched nine-point new initiatives with an eye on the future of planning and growth in the state.

With a deficit of Rs 20 lakh on a proposed expenditure of Rs 8,090.24 crore, Chamling hoped “tax revenues to climb over 27 per cent”.

The budget, he said, was pro-poor and rural centric in alignment with the stated goals of the government.

“This being the final year of the 11th Plan there is more emphasis on completion of ongoing projects and improvement in quality of implementation. Furthermore, there is going to increased monitoring through use of new tools that will be introduced”, he said.

The chief minister expressed optimism at the “satisfactory” all round economic growth in Sikkim buoyed by the economic growth that the country was experiencing at over 8.5 percent.

He however, cautioned on the price rise due to increase in fuel costs as the country imports a large amount of crude oil.

“Volatility in the world may impact inflation adversely and hence it is important to see that we can hedge this through more production of our own food needs and use of electric power in transportation of the future since we are going to be more than self sufficient in this due to our hydro power generation”, he said.
He also touched upon the targets of the state government — poverty elimination by 2015, eradication of illiteracy by 2015, organic farming and marketing of produce, youth centric budget in terms of higher education and skill development, Green mission and Rural Housing programme.

As part of the nine new initiatives, he said, Fiscal Responsibility and Budget Management (FRBM 2010) Act will kick start this year. “This will ensure that there is greater responsibility in terms of revenue expenditure while increasing Tax and Non Tax revenues”.

This, he said, would come up with a Human Development Report (HDR 2011) incorporating the latest knowledge creation in this area.

Moreover, the year 2011 -12 has been declared as the ‘Year of Innovation’. Emphasis will be given to seeking out and disseminating innovations and processes in both private and government sectors, the chief minister said.

Urban infrastructure will be given emphasis in the ongoing scheme of improvement in the quality of life of the citizens.

Importance would also be given to new and innovative ways of conservation of water.