Economy Vision

Reforming Economy, Driving Growth

  1. Economy is all about production, use and management of resources with equal distribution of resources in society. It is an engine of overall growth and development for a nation or state. That means, healthy or sound economy indicates there exists economic growth and where there is a proper economic development means there is strong economic growth. Hence, economic development plays a critical role in driving economic growth in Sikkim, which in turn creates jobs and facilitates improvement in quality of citizen’s life. However, the fundamental problem in having vibrant economy is that the demand (wants)is always greater than the existing or available resources. Our Government shall adapt inclusive Economic Policies for growth and development in the state.
  2. In order to have sound knowledge and better understanding about economy of Sikkim, there shall have a Comprehensive Review on economy with the experts.
  3. A New Economic Policy shall be formulated for Sikkim.
  4. There shall have the revision on development indicators ,like per capita Income (PCI),Gross state Domestic Income (GSDI), Percentage of Below Poverty Line (BPL) families ,Unemployment rate ,Agriculture/Horticulture Productivity ,etc of the present regime for bringing about economic reforms.
  5. The Sikkim Fiscal Responsibility and Budget Management Act, 2010 shall be revised to formulate the Smart Fiscal Policy for Sikkim.
  6. There shall have extensive study and evaluation of Tax and Non-Tax Revenues to get the accurate total revenue collection and further strengthen the economic health of Sikkim.
  7. The economic growth shall transform natural resources into basic products ,put efforts to convert raw materials into goods, provide services including entrepreneurship ,create employment opportunities, help in reducing poverty, have equal access to essential services in health and education  by poor, focus on human capital development, guarantee social protection, endure food security, have equal access to potable water, build quality infrastructures, highways and civil aviation, provide equitable opportunities, empower people through education, training and skill development encompasses a growth process that is environmentally congenial, aim for good governance, create equal society, promote and strengthen research and development and raise the quality and standards of human life.
  8. There shall have Economic Advisory Council to transform Sikkim into a state of scopes, avenues and opportunities with smooth capital flow and movement both in rural and urban areas.
  9. How can economy grow without productive population? I fact, labour force is the pillar of any civilization but Sikkim has lost its strong labour force since 1994.For economy to grow ,each member of the family shall be made productive .Also , a strong labour force (skilled )of our own shall be produced and their economy shall be strengthened .
  10. Sikkim lost its strong rural economy from 1994 onwards. The historically downturned rural economy shall again be revitalized and make it again the most important contributing factors to State Gross Domestic Product.
  11. The public money shall be recovered from Bharosa Bank, Siddhi bank Pvt. Ltd., Teena Bank Pvt.Co, NEMSICS, Sikkim Lottery, State Bank of Sikkim Robbery (Sombaria) and other Chit Funds.
  12. There shall have census to determine the real figure of below Poverty Line (BPL) population, per capita Income from each Gram Panchayat Unit (GPU) and prepare economic index for each GPU.
  13. Exemption of Central Income Tax shall be continued to the holders of Sikkim Subject Certificate (SSC) and Certificate of Identification (COI) having volume number and serial number registered with the Sikkim Subject Register, Old Business Settlers shall be provided exemption from central Income Tax.
  14. Apart from State Bank of Sikkim (SBS), a new Gramin Bank shall be established to provide banking services at doorsteps.
  15. Low interest loan shall be provided to Sikkimese, for home loan, car loan .education loan, agriculture loan and allied loan, small cottage industry loan, etc.
  16. There shall have support to all types of business persons of Sikkim having SSC/COI with volume number and serial number registered with the Sikkim Subject Register (Sikkimese)and Residential Certificate indicting they have been settled in Sikkim before the 16th May 1975.
  17. Policy on Minimum Living Expenses and Minimum Benefits shall be formulated to citizens.
  18. Taxes and insurance of vehicles shall be reviewed.
  19. There shall have Mission Poor to Rich.
  20. There shall have price controlling system for commodities and a model public Distribution system.
  21. The strategic plans to all GPUs for the next 10 years shall be formulated for development.
  22. Establishments of institutes, agencies and marketing organizations to serve the needs of small scale Industries include Cottage Industry shall be done.
  23. Subsidy shall be provided to promote the small scale Industries in the rural areas of Sikkim
  24. Special marketing arrangements through the provision of services, such as product standardization, quality control, market survey, shall be laid down to increase the sale of local products in the main streams.
  25. All the abortive missions, schemes and programs existed in present regime shall be quashed.
  26. Start-up Sikkim program relating to invention, development, production and use of biological products and process shall be launched.
  27. Film and photography institute, bamboo industry carpet industry, generic medicine manufacturing units, etc. shall be established and promoted.
  28. Single window clearance system shall be in place for establishment of small and medium scale industries.
  29. There shall have license free enterprise, small scale industries, cottage industries, and small scale entrepreneurships to indigenous Sikkimese and the holders of Residential Certificates.
  30. Sikkim shall be kept Loan Free State.
  31. Sikkim shall be pushed towards virtual state.
  32. There shall have industrial Policy and Hydro –Power Project Policy for Sikkim.
  33. Manufacturing sector shall be promoted and strengthened Generic Medicine manufacturing unit shall be established to reduce the cost of medicines with equal benefits. There shall have periodic growth index for industry.
  34. There shall have better ways of capitalizing small and medium enterprises.
  35. Our Government shall open the Head for corporate Social responsibility fund from the private companies and power sector.
  36. Our Government shall provide Skill Development programs to jail inmates.
  37. Corporate tax rates shall be low to all firms including national and international.
  38. There shall have collaborations with the national and international agencies for using modern technology in small –scale industry.
  39. .More emphasis shall be provided to the women entrepreneurs for widening the entrepreneurial base.
  40. There shall have all types of supports and help to physically disabled persons or such mentally vulnerable population of the society.
  41. Our Government shall establish permanent stalls at MG Marg and White Hall complex for sale of Sikkim Products.
  42. There shall have findings of 10-20% from each project, schemes and mission to NGOs, Community Based Organizations, Clubs (Music, arts, Games, Athletics etc.) SHGs, Societies (both formal and informal), Religious & spiritual Organizations, Literary Organizations, etc. for economic flow both in urban and rural sectors.
  43. Our Government shall frame Sikkim housing Policy for both urban and rural areas wherein Mission of Housing scheme (Mission: Pakka Ghar Yukta Sikkim) shall be achieved by 2025, the year when Sikkim will be compete 50 years of its existence as a state of India. Well-designed concrete house will separate kitchen and bathroom and toilet shall be constructed for all Below Poverty Line (BPL) families. The fund for construction of the house shall be transferred directly to the beneficiaries’ bank account and government shall monitor the construction work. there have the operational guidelines and other provisions like management information system (MIS) for transparency, certified Blue Print plan  all houses ,option of beneficiary led construction ,rent to own employees housing, LIG (low income group) housing through Sikkim Housing and Development Board (SHDB), financial linkage with State Bank of  Sikkim, etc.
  44. Housing development scheme shall be promoted and strengthened to government employees in all district head quarters.
  45. Construction of modern buildings and quarters shall be promoted and strengthened for government employees in all districts.
  46. A new Social Audit Act shall be framed to bring robust transparency in social auditing system.
  47. One Acre Land shall be provided to the genuine landless sikkimese.
  48. Quality food grains shall be provided to all BPL families free of cost.
  49. Sikkim shall achieve self-Reliant Statehood in all aspects.
  50. Gram Panchayat Unit shall be provided with additional manpower snd vehicle to strengthen their affairs.
  51. LPG stove with two LPG cylinders hall be provided to all BPL families .The refilled LPG cylinder shall be made available at the doorsteps in all rural areas.
  52. There shall have Emergency Fund for State Government.
  53. There shall have the States’ Employees Insurance Policy.
  54. All the worn out materials (like clothes, leather products, iron products, plastic products, cotton-made products, etc.) shall be collected from each household and a recycle manufacturing unit shall be established for these materials.
  55. Makkai Bazaar, Dhan Bazaar, Kodo bazaar, Fapar Bazaar, Aalu Bazaar, Alaichi Bazaar, Daal Bazaar, Tarul Bazaar, etc. shall be promoted and strengthened .
  56. Renewal of Trade License shall be done once in years .The officials shall visit business owners for license renewal.
  57. All motor vehicle related taxes and charges shall be of year –term basis.


All our policies and programs of action shall be based on the key principles that Sikkimese shall govern to make their state as they want to see and secure generations .We the SKM party, have envisaged the many salient policies , plans and programs for making New Sikkim.