Date:06/03/2008 URL: http://www.thehindubusinessline.com/2008/03/06/stories/2008030651201100.htm

Back Chamling presents deficit budget

Sarikah Atreya

Gangtok, March 5 The Sikkim Chief Minister, Mr Pawan Chamling, presented a deficit budget in the Assembly here today for 2008-2009. The deficit has been put at Rs 0.39 crore. Contribution from tax revenue sources has been put at Rs 151.10 crore and from non-tax revenue sources at Rs.1146.26 crore.

The State’s annual Plan size has been fixed at Rs 852 crore, which represents a 23.27 per cent increase over the previous year’s allocation.

Fiscal reforms

Presenting his budget speech, Mr Chamling said his Government’s endeavour towards implementing fiscal reform will be continued in full earnest.

“Our revenue collection drive both from tax as well as non-tax revenue sources are being streamlined and the outcome has been satisfactory. The increase in revenue collection from tax and non-tax over the previous year’s budget estimate is 22.13 per cent. Concerted efforts are being made to diversify the tax base,” he said.