ECONOMIC DEVELOPMENT

FACTS & FIGURES SPEAK FOR THEMSELVES

•Sikkim has the 5th highest growth rate in the per capita NSDP.

•In per capita income it occupies the 10th highest rank in the country.

•It is 3rd in per capita plan expenditure.

•In literacy rate it ranks 16th highest in the country.

•In child mortality rate it ranks 13th when counted from below.

•In birth rate it ranks 12th when counted from below.

•In socio-economic infrastructure development index it ranks 9th position.

•In plan expenditure in social sector it ranks 4th position.

•In relation to Externally Aided Projects it occupies the 10th position.

•In total budget deficit it ranks 4th from below.
 
• According to the fiscal policy of the central government VAT has been implemented in Sikkim.
 
•The state has currently achieved a 9% growth rate. It aims at achieving 10 % growth rate at the end of the tenth five year plan.

Former Prime Minister
Shri Atal Bihari Vajpayee with
Chief Minister Dr. Pawan Chamling

• SDF Government has been successful in bringing more and more funds from the Centre. In 1994, the annual plan outlay was only RS.120 crores button day it is Rs. 690 crores.

• When SDF Government came to power, State's internal revenue was only Rs.41.30 crores.

Today it is Rs. 300 crores approx.

• The Government has given priority to nature based economy. The strategy of development has identified water resources, natural beauty of the state, its greenery, mountains, forest product, medicinal plants, minerals etc. Besides this horticulture, floriculture and human development have also been identified as important variables in development.

•Realising the importance of cooperatives and to encourage it, the government has formed cooperatives in most of the villages and also provides Rs. 77 ,000/ - support to every cooperative society.

•Today, there are 496 cooperative Samitis and 94 consumer cooperatives in the state which are being provided loan through SISCO Bank. Till now 1270 people and organizations have been benefited.

Opening of historic Trade Route

•For the management of the entire developmental activities of the state,

a State Planning Commission has been formed.

•For formulation of developmental plans at the district level, District Planning Boards under the Zilla Panchayats have been formed in all the four district.

•Economic Survey of the State is now regularly published on an annual basis.

•Former Prime Minister of India, Shri Atal Behari Vajpayee during his visit to Sikkim announced an economic package of RS.500 crores.

Industrial and Investment Activities

•After 1994 three big industries and 245 small scale industries have come up in the state. They are running successfully. Sick industries are also being divested, privatized or closed down.

•Under the Chairmanship of the Chief Minister, Government has set up a Board of Investment.
This Board analyses all investment proposals proposed in the state and approves them at the highest level.

•Besides creating a friendly environment for the national and international investors and industrialists, the state has a also framed policies to reduce the rising problem of unemployment.

•Beside providing land to industrial units, the government also provides capital investment subsidies to the tune of 25 % , 30 % and 15 % to small scale industries and export oriented industries which have been established by local industrialists and large and medium scale industries, respectively

•To encourage the development of industries in the state, the Government has demarcated the following areas as Industrial Belts: Rangpo via Singtam to Ranipool, Melli via Jorethang to Legshep and from Rangpo to Rorathang.

•For tourism and industrial development workshops were held in Delhi and Kolkota with national and international investors and industrialists and non-governmental organizations. The first meeting of Sikkim Investment forum was held in Delhi on 22nd February 2001.

•To help industrialists who are interested in investing in Sikkim, the government has introduced the single window system in the state.

•To ensure the protection of the intellectual property and to deal with cases concerning the intellectual property rights, committees like Intellectual Patent Committee and State Intellectual Law Committee have been formed under the Chairmanship of the Chief Minister.

•The government is giving priority to those industries which are based on local raw materials available in the state and those industries which are environment friendly.

•A special scheme titled "Chief Minister's Self Employment Scheme" to educated and unemployed youth was launched to provide financial assistance for self-employ _ opportunities.

•Since a significant chunk of commodities coming from Nathu la Trade Route are likely to be raw materials, the government is exploring ways and means to process them in Sikkim and to make them fit for export. The government has plans to establish special industrial estate for this purpose.

•The Sikkim Industrial Development Corporation is regularly holding programmes and cam encourage industrial activities in the state.

•After re-opening of the Nathu la Trade Route, a number of industrialists have already shown interest to set up industrial units in the state.