Sikkim's Surplus Budget Soars: 109% Increase in State Spending

Sikkim Chief Minister Prem Singh Tamang has presented a surplus budget of Rs 14,490.67 crore for the 2024-25 fiscal, marking a 109% increase since 2018-19. Capital expenditure has surged significantly, indicating improved financial management and strategic investments.

Sikkim Chief Minister Prem Singh Tamang on Monday unveiled a surplus budget of Rs 14,490.67 crore for the 2024-25 fiscal year.

Tamang, who also serves as the finance minister, highlighted that the state's capital expenditure rose to Rs 2,661 crore in 2023-24 from Rs 720.61 crore in 2019-20, marking an increase of over 269 per cent.

The capital expenditure for 2024-25 has been further increased to Rs 3,752.90 crore, he announced.

"I'm pleased to present a budget of Rs 14,490.67 crore, a 109 per cent increase compared to 2018-19," Tamang stated during the first day of the four-day budget session in the assembly.

"This progress has been achieved through better management of state finances, enhanced revenue generation, and strategic investments through externally aided projects," the CM added, presenting his sixth consecutive budget.

The state has successfully secured additional funding for capital projects by leveraging its performance and timely project completion, noted the Chief Minister.

(With inputs from agencies.)