Sikkim CM presents Rs 16,196 cr budget for 2025-26

Gangtok, Mar 26 (PTI) Sikkim Chief Minister Prem Singh Tamang on Wednesday presented in the assembly a budget of Rs 16,196 crore for the 2025-26 fiscal with a focus on empowering youth, uplifting farmers, investing in infrastructure and ensuring financial discipline.

The budget comprises Rs 11,028 crore of revenue expenditure and Rs 5,168 crore of capital outlay.

The devolution of taxes from the Centre was estimated at Rs 5,519 crore, a leading source of receipts, along with Rs 2,600 crore that the central government will provide to Sikkim as grants and aids in 2025-26, said Tamang, who also holds the finance portfolio.

The state government will generate its own tax revenue worth Rs 2,076 crore and non-tax revenue to the tune of Rs 1,007 crore, he said, adding that Rs 2,651 crore will be raised through borrowing.

The chief minister said that a provision of Rs 2,896 crore has been made in the next fiscal year's budget for the state government's contributions to the centrally sponsored schemes with a goal to maximise the development of the Himalayan state.

At the end of the presentation of his seventh consecutive budget on the second day of the ongoing session, Tamang said that the budget reflects the SKM government's commitment towards fiscal prudence for sustainable development and the welfare of the people of Sikkim.

"I presented the 7th consecutive annual budget for the financial year 2025-26 of our government since we took over the governance of Sikkim in 2019. The budget reflects our government’s commitment towards fiscal prudence for sustainable development and the welfare of our people," he said.

This budget aims to strengthen Sikkim’s economy, promote inclusive growth, and ensure that development benefits reach all citizens, Tamang said.

The chief minister also said that his government's focus remains on empowering youth, uplifting farmers, investing in infrastructure, and ensuring financial discipline.

"Through effective governance, we will drive economic growth, social equity, and environmental sustainability while maintaining peace and harmony," Tamang said, adding that the budget will accelerate Sikkim’s growth while ensuring long-term sustainability and inclusivity.

Through strategic investments across key sectors—infrastructure, education, healthcare, connectivity, environmental conservation, tourism, and social welfare, the government aims to strengthen the state's economy, improve livelihoods, and enhance the quality of life for every citizen, the chief minister said.

He said that the state government recognises the challenges posed by the state's unique mountainous terrain, vulnerability to climate change, and uncertainties of the global economic landscape, and implements policies that drive equitable and sustainable development.

"We are focused on enhancing resilience, fostering innovation, and leveraging our natural and human capital to build a prosperous future," Tamang said, adding that the investments in infrastructure will improve connectivity, ease transportation bottlenecks, and facilitate economic activities.

After the chief minister's 37-minute budget speech, Speaker M N Sherpa said that the discussion on the budget will take place on Thursday.

Earlier, Governor OM Prakash Mathur addressed the House ahead of the presentation of the annual budget and hailed Sikkim as an epitome of peace, tranquillity and harmony.

The Himalayan state has made a name for itself as a beautiful place where peace and tranquillity prevailed even as rapid strides have been made in terms of development over the past 50 years since the state was integrated into the Union of India, he said.

Mathur lauded Tamang for providing good governance in Sikkim along with quality education and health facilities to the people.

The Sikkim governor exuded confidence that the state will maintain the momentum in the journey towards development and prosperity under the leadership of the chief minister in the years to come. PTI KDK BDC

Source: PTI