Sikkim dependent on Centre for funds, Golay tells Nirmala Sitharaman

CM Prem Singh Tamang highlighted the reliance of Sikkim on funds from the Centre and credit from banks and other financial institutions for economic development

SUJAL PRADHAN, EOI, GANGTOK, JANUARY 6, 2024 : Speaking at a credit outreach programme in the presence of Union Finance Minister Nirmala Sitharaman on Saturday, Chief Minister of Sikkim Prem Singh Tamang highlighted the reliance of Sikkim on funds from the Centre and credit from banks and other financial institutions for economic development. He appreciated the remarkable growth in the credit to GDP ratio in Sikkim, now ranking among the top three in the north-eastern states. 

He stressed on the need for improvements in staff strength in important offices such as MSME Development and Facilities Facilitation Office, Khadi and Village Industries Commission and SIDBI. 

He urged for the establishment of an office of the Directorate General of Foreign Trade to enhance the participation of the state in affairs of international trade. 

The Chief Minister expressed concern about the delay in establishing a carpet-making cluster in the Soreng District, calling attention of the Union Finance Minister for support. 

He stressed on the importance of addressing mandatory documentation requirements such as opening accounts and tax identification to simplify the process for the Sikkimese people. Sikkim had achieved full banking coverage across all blocks with focus on digital enablement, he said. 

The Union Finance Minister expressed condolences for those who had lost their lives and property in the Glacial Lake Outburst Flood last October and acknowledged the resilience of the Sikkimese people. 

She assured continued support from the Centre and financial institutions in the efforts for post-flood recovery and expressed confidence in the ability of Sikkim to bounce back. She underscored the importance of supporting local business, especially under the Start-Up and Stand-Up India Initiatives. 

She urged the State Government to raise awareness about government schemes with special emphasis on self- help groups, promoting local artwork and crafts. Nirmala Sitharaman arrived in Sikkim earlier on Saturday. She will visit the border village Kupup and take part in a NABARD credit outreach programme.