Business Standard

Sikkim has outstanding loan of over Rs 16,207 crore


Press Trust of India Gangtok
Sikkim Chief Minister Prem Singh Tamang aka PS Golay on Tuesday informed the Assembly that the state has an outstanding loan of Rs 16,207.94 crore as on March 31.
The loan amount turns out to be Rs 2.45 lakh on each individual of Sikkim, he said.
"When we took over from the previous government, there was an outstanding loan of Rs 16,207.94 crore as on March 31, 2019," the chief minister said.
Golay's party, the Sikkim Krantikari Morcha (SKM), ousted the Sikkim Democratic Front government led by Pawan Kumar Chamling after 25 years in May.
Golay said Sikkim had an outstanding loan of only Rs 214.93 crore by March 31, 1994, the year in which Chamling was elected to power for the first time, implying that his predecessor had left behind the huge financial burden on him.
The chief minister said his government has inherited financial liabilities to the tune of Rs 50,604.75 crore by way of pending bills of various departments.
A member of the House raised the issue of rumour on social media about "merger" of Sikkim and Darjeeling hills.
Speaker L B Das expunged this but the chief minister chose to speak on the issue.
Golay said Sikkim is protected under the Art 371(F) of the Constitution, which deals with certain special provisions with respect to the state.
A bill proposing to amend a law for starting e-payment for collection of court fees was passed by the House on Tuesday.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 30 2019 | 8:35 PM IST

Explore News