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The
achievement of rapid economic development and removal of poverty,
continue to be the principle objectives of development policy of
the State. The economy of the State has performed efficiently so
far as indicated in the HDR and a house to house economic survey
reveal that the poverty level has gone down to 37% from the level
of 41.43% (Rural 45.1%, Urban 7.73%) surveyed by NSS. Our Gross
State Domestic Product at current prices has grown by 7.23% in
99-2000 and the per capita income by 3.77%. As the State aims for
higher achievements and a greater attention is paid to the social
and economic infrastructure, rule of law, a sound fiscal and
financial framework and better governance. The mobilization of
human and capital resource is a major engine for economic growth.
Therefore the State now offers opportunities to private investors
by allowing open, free and fair competition in all economic
spheres especially in the areas of Power, Tourism, Information
Technology, Horticulture and Industries that have high value and
low volume.
We are already through with the first phase of India-Australian
Training and Capacity Building Project. Major schemes cleared (by
the project) for Australian aid are the Gangtok Urban Water Supply
& Environmental Sanitation Scheme, Control of forest fires, Bio
Medical Waste Management etc. The schemes under Indo Swiss Project
is in its second phase helping the rural farmers in the areas of
horticulture and animal husbandry. A World Bank Project for
Technical education is also under implementation.
Very recently the State has taken a decision to constitute a State
Planning Commission which will advise the State in matters of
State Plans, its implementation and evaluation. The Commission
will be instrumental in formulating policy initiatives to achieve
fiscal stability and to further sustainable economic growth.
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