Net expenditure kept at Rs 9,588.65 crore
Sikkim Chief Minister Prem Singh Tamang on Monday presented the state’s budget of Rs 9,852.85 crore for the financial year 2021-22.
Out of the total budget of Rs 9,852.85 crore presented on the first day of the two-day session of the House, the net expenditure has been kept at Rs 9,588.65 crore. Tamang said that the remaining Rs 264.20 crore is to be recovered from various heads.
State’s economy affected by the Covid 19 pandemic
Presenting the budget in the Vidhan Sabha, he said that the Covid-19 pandemic has damaged the backbone of the state’s economy.
In the budget speech, the Chief Minister said that the state’s economy has been badly damaged due to the public restrictions imposed during the two waves of the Covid-19 pandemic.
Loss in different sectors
He said that the tourism sector has suffered a loss of over Rs 900 crore while the state’s GDP has suffered a loss of over Rs 2,200 crore.
Tamang said agriculture, power and excise sectors have also been affected by the slowdown in supply chain and consumption. Given the reduction in revenue receipts, it is a very difficult task to revive the economy.