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News....
Wak news: a.Construction of houses for model village started,at present construction has begun in sikip,total of hundred houses are to be constructed.
b.Road carpeting of sikip to upper wak to namchi to start from next year 2004 probably from march or june.
c.Coordinating committee of CIC Wak formed:Incharge of community information centre wak conducted a meeting among the panchayats of its surrounding areas and discussed about the following agendas: 1.Smooth functioning of the CIC and its utilization. 2.Ensuring that the user do not misuse the systems in the centre. 3.Ensured them to make aware among the public regarding the facilities. 4.Urged those panchayats to visit the centre once in a week and enquire about the centres functions like accounts,equipments and users.
5.Constituted the committee of three members.Two from the panchayat and one from the centre and gave them the equal status as a member.
6.All the official matters of the centre shall be handled by the respective incharge in consent with the coordinating committee as such no other people can interfere in the matters as far as smooth functioning of the cicwak is concerned beside the departmental personnels but the suggestions and opinions are welcomed in respect to the goodness of the centre.
The following constitutes the CIC Wak Coordinating committee:
1.Ashdan Rai,panchayat chumlok.
2.Robin Rai,RDA.
3.Chandan Rai,Centre Incharge CIC Wak.
d.Request from the people of wak to DIT is that to include the prevaling prices of ginger in the major markets of Sikkim in the official portal sikkimgovt.org.
Gangtok times:the online weekly news magazine of sikkim..headlines..click for links
a.Janata Melacicwak
b.Limboo And Tamang Communities Secure Tribal Statuscicwak
c.National Development Council meeting in New Delhicicwak
d.Impact and Messagescicwak
e.All India Limbu Youth Association Holds A Press Conferencecicwak
f.Limbu and Tamang communities pay gratitude to CMcicwak
g.Sikkim Observes 298 Birth Anniversary Of Srijunga Yuwangsicicwak
h.Nari Kalyan Samity Organizes cicwak
i.Tiny tots will learn under guidance of camp leaderscicwak
j.Trek to Rumtek by the students of Army Schoolcicwak
k.Prime Minister Vajpayee given an invitation to visit Sikkim by CMcicwak
l.Speed Post inaugurated at Singtam Post Officecicwak
m.Construction Of Lall Bazarcicwak
n.VHAS Conducts 6th Project Review and Sanctioning Committee Meetingcicwak
More...news......
Himgiri the online news in nepalicicwak
sikkim heraldcicwak
employment news of sikkimcicwak
BBC News...cicwak
online indian newspapers.cicwak
Head lines zee news..
Sunita Rani to get her medals backcicwak
American aircraft still grounded; IB starts probing cicwak
UP ministry expansion today cicwak
Indo-Pak meet on Indus hydro-electric project cicwak
sports newsa> href="http://www.zeenews.com/links/subsections.asp?sid=SPO">cicwak
world cup cricket 2003 newscicwak
IT launches Office Automation programme at Namchi
'OFFICE AUTOMATION 2002' an IT Literacy programme organised by Information Technology Department, Government of Sikkim was inaugurated at Zilla Panchayat Bhawan. The first batch comprising of 10 government officials would be imparted free computer training programme for 10 days (full time) at Community Information Centre (CIC) set up at Zilla Panchayat Bhawan complex. This CIC is the second of its kind after Gangtok established a couple of months ago, reports DIO (South).
The District Collector, South Mr. K. Srinivasan, inaugurating the training camp highlighted on the significance of computer education in this world of information technology. He suggested government. employees acquire computer knowledge and stressed that all the government documents should be computerised for prompt and effective result. Mr. Srinivasan said that single window system in the district administration will be introduced shortly.
Additional Director, IT Department, Mr. Rajesh Verma, introducing the office automation 2002, apprised that almost all the stenographers stationed at Gangtok have been made computer literate through such training programme. To facilitate more people especially the young generations in computer literacy, 40 CIC are in the process of setting up in the nook and corner of Sikkim by his department, he apprised. He told that the major thrust areas of IT is to make life easier for citizens through computerisation. Computer education also helps unemployed youths in facilitating employment opportunities in a private sectors, he added.
Mentioning the achievements of IT in the state, he informed that website on various aspects of Sikkim have been hosted. Computerisation of Grievance Cell at the CM's Secretariat has already begun apart from setting up of a computerised Brail Press for visually challenged children at JNMIH, Namchi. He assured that this centre would provide maximum training facilities to the govt. officials of South District to ease the working procedure of district administration.
Earlier Technical Assistant, Mr. C.N. Bhutia, also the Resource person of the training programme while welcoming the guests and trainees mentioned about the aims and objectives of this training programme given to govt. employees phase wise.
INFORMATION TECHNOLOGY (IT) IN THE NORTH EASTERN REGION
The Union Ministry of Information Technology (MIT) are currently supporting a number of schemes/ projects/ centres for development of IT sector in the North Eastern Region. The most notable of these schemes is the Community Information Centre (CIC) Project which aims to extend the reach of Information Technology to the North East for rapid socio-economic development of the area and for bringing it closer to the national mainstream. This project, which was completed in August 2002, involved the setting up of Community Information Centres (CICs) in all 446 blocks in the seven North Eastern States and 40 blocks in the State of Sikkim. The project cost was Rs. 252 Cr.
Community Information Centre
The other schemes being supported by Ministry of Information Technology are as follows :-
i) Software Technology Parks of India (STPI) centres at Guwahati, Sikkim, Agartala, Shillong and Imphal.
ii) IT Entrepreneurs Development Programme for educated unemployed youth of Mizoram
iii) Centre for Electronics Design & Technology of India (CEDTI) at Imphal, Tezpur & Aizawl
iv) Education Research Network (ERNET) connectivity to all the North Eastern State Universities etc.
v) Resource centre for Indian Language Technology solution (RCILTS) at IIT, Guwahati for Assamese and Manipuri languages
vi) National program on Low Cost Multimedia Content creation training centres opened at Assam, Manipur, Mizoram and Sikkim
vii) Cultural Heritage of Sikkim with IT application using Multimedia technology.
viii) Development of portable Lidar system (a remote sensing device based on active echo sounding by optical means) at Guwahati University, Assam
ix) Development of E-Governance and citizen facilitation using IT (Sikkim Connect)
x) Employment Generation and Training schemes
xi) Augmentation of electro-medical equipment maintenance centre at AMTRON, Assam
xii) Braille Transcription system for the Blind schools of Assam, Mizoram and Sikkim
xiii) IT based education and communication for people affected with cerebral palsy for Mizoram and W. Bengal
Prime Minister’s Rs. 10,271 crore Agenda for Socio-Economic Development in the North-East & Sikkim
Shillong, January 21, 2000
After listening to the points made by Governors and Chief Ministers of the North-East States and Sikkim, the Prime Minister has decided upon the following initiatives for the social and economic development of the North-East region and Sikkim:
1. Banking
A sum of Rs. 500 crores will be provided for rural infrastructure development every year from the Rural Infrastructure Development Fund (RIDF).
Banking facilities will be provided at all border trading points within one year.
A sum of at least Rs. 50 crores will be disbursed per annum by North-East Development and Finance Corporation (NEDFI).
2. Commerce
An Export Development Fund (EDF) for the North-East region will be set-up with an initial corpus of Rs. 5 crores. The Ministry of Commerce will work out the modalities for operation of this fund.
The border townships of Moreh (Manipur), Zokhawther (Mizoram), Dawki (Meghalaya) and Suterkhandi (Assam) will be developed over the next 2 years at a cost of Rs. 20 crores.
3. Border Trade
An Empowered Committee will be set up to process the recommendations of the Inter-Ministerial Task Force on Border Trade. This will be completed within 12 months.
4. Health
North-Eastern Indira Gandhi Regional Institute of Health and Medical Sciences in Shillong will be upgraded and made a national institute. The upgraded institute will offer studies in 8 medical super specialities, 5 surgical super specialities and 10 non-clinical specialities. The institute shall have a 500-bed referral hospital. A sum of Rs. 422.60 crores will be spent on upgrading these facilities.
5. Education
A Central University will be set up in Mizoram. The Bill for this purpose has been passed by the Rajya Sabha and will be taken up by the Lok Sabha soon. A sum of Rs. 25 crores will be spent for development of infrastructure for this new university which meets a long-standing demand of the people of Mizoram.
Government has decided to double the number of Industrial Training Institutes for imparting training in new trades over the next 3 years. This will involve an outlay of Rs 100 crores.
6. Security Related Expenditure
The Union Government will further expand the list of items of expenditure incurred by the police, eligible for reimbursement, which would include 50% of POL (petrol, oil and lubricants) costs, village guards, village defence committees and home guards (subject to guidelines). The SRE reimbursement facility will be extended to Meghalaya and Arunachal Pradesh. The Modernisation of Police Force Scheme (in kind) will be extended to Sikkim. The total additional reimbursement would be Rs. 40 crores per annum.
7. Peace Bonus For Mizoram
Mizoram is the most peaceful State in the North-East today. With a view to encourage the people of Mizoram who have opted for peaceful economic development, Government has accepted the recommendation of the Committee set up by the Finance Ministry and allotted Rs.180 crores to Mizoram to tide over its financial problems. Government will also release Rs. 50 crores every year from the non-lapsable pool and resources for 5 years for specific infrastructure development projects in Mizoram.
8. New India reserve Batallion (IRB)
Government will also sanction 3 India Reserve Batallions - One each for Tripura, Mizoram and Manipur. With an estimated expenditure of Rs. 15 crores for each battalion. The setting up of these 3 IRBs will cost Rs. 45 crores.
9. Border fencing And Border Roads
It has been decided to fence the remaining portion of Indo-Bangladesh border and construct border roads with a total outlay of Rs. 1,335 crores. The work on this would commence in April 2000.
10. Central Non-lapsable Pool Of Resources
The Government has streamlined the procedure for selection of projects which are to be funded out of the Central non-lapsable pool of resources. It is expected that projects worth Rs 500 crores will be sanctioned annually to build up infrastructure and take up other economic development projects.
11. Power
The Government has accorded approval to 2 hydro-electric projects in the Central Sector:
Loktak Downstream (90 MW) in Manipur at the cost of Rs. 578 crores.
Teesta V (510 MW) in Sikkim at the cost of Rs. 2,200 crores.
Action has been initiated to ensure that Subansiri Lower Side (660 MW) project in Arunachal Pradesh commences in 2001. This will require investment of Rs. 3,000 crores.
Ministry of Power has prepared a new scheme for rural electrification of 500 tribal villages to be funded by Rural Electrification Corporation. The scheme will cost Rs. 30 crores.
Assistance will be provided for completing the ongoing critical transmission/sub-critical transmission systems at a cost of Rs. 239.92 crores.
12. Civil Aviation Policy
In order to provide inexpensive air travel in this region, Government has decided:
Aviation Turbine Fuel will be provided to small aircrafts at international prices.
Aviation Turbine Fuel for small aircrafts will be treated as a "declared good" – i.e. it will attract a sales tax of not more than 4%.
There will be no IATT for routes operated in the North East.
13. Roads Sector
Government will soon sanction 8 road/bride projects under NEC with a total outlay of Rs 258.24 crore.
Twelve new National Highways / extension of existing highways have been declared, covering a total length of 1,962 km. A sum of Rs 100 crores will be earmarked for the development of these highways.
14. Information Technology
To promote Information Technology and its application, an ambitious programme has been drawn up to establish computer information centres in all 446 blocks in the 7 North-East States. Another 40 such centres will be set-up in Sikkim. This project will be implemented in the next 2 years at a cost of Rs. 100 crores.
15. Excise Concession
Excise concession in the New Industrial Policy shall be made applicable to the Numaligarh Refinery in Assam. This would involve an annual concession of around Rs. 200 crores.
16. Flood Control
The Government has decided to reform the Brahmaputra Board to make its functioning more effective for implementation of flood management schemes.
17.Horticulture
A Technology Mission for Horticulture will be sanctioned during the current financial year. The total outlay for this mission is Rs. 262.50 crores over the next three years.
18.Development Of Bodo Areas
The special programme scheme for development of insfrastructure and other facilities in the Bodo Autonomous Council Areas will be sanctioned with a total outlay of Rs. 30 crores per annum for 3 years.
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SIKKIM MINING CORPORATION (SMC)
SIKKIM MINING CORPORATION (SMC)
The Corporation was set up as a joint venture of Govt of Sikkim and Govt of India in the share capital ratio of 51:49 according to proclamation of the then Sikkim Darbar dated 27th February, 1960 with the basic objective of exploration and exploitation of mineral deposits in Sikkim. So far, the amount released by Govt of Sikkim is Rs 491.50 lakhs while Rs 489.00 lakhs have been released by Govt of India. According to the allocation of Business Rules, the Department of Development of North Eastern Region is the nodal Department of the Central Government for matters pertaining to Sikkim Mining Corporation.
Until April 1997, the Corporation was operating only one underground mine which crossed the Teesta river, namely the Bhotang mine. As a part of major expansion programme, another underground copper mine located at Rorathang called Pacheykhani was started w.e.f 2nd May, 1997. The ore produced from both the mines is processed at the Bhotang mine plant. The ore from Bhotang mine is quite complex and contains copper, zinc and lead. Other precious metals such as gold, silver etc could not be extracted due to technological limitations of SMC. The ore from Pacheykhani is monometallic and it contains only copper. Current rate of ore production from Bhotang mine is about 70 tonnes per day whereas production (before suspension) was about 15 tonnes per day from Pacheykhani mine. The ore deposit of Bhotang mine is more or less uniform whereas the deposit at Pacheykhani is highly unpredictable due to lensoid and erratic nature. Geologically, the strata containing ore at Bhotang mine is strong and competent, whereas it is very weak with fault zones at different places in Pacheykhani mine.
The operating results of SIKKIM MINING CORPORATION for the years 1999-2000, 2000-2001 and 2001-2002 are as follows :-
1999-2000 2000-2001 2001-2002
ROM (1Xton) 15901 22018 16597
Cu Conc (ton) 718 1038 688
Zn Conc (ton) 626 291 505
HCL Price (Rs/unit Cu) 729 851 722
Revenue (Cu-Zn) 143 196.06 166.00
Loss A/c (Rs in Lakhs) 59.86 49.34 63.60
The reasons for continuing losses have been identified to be constant decrease of LME Copper prices over the last few years, frequent power interruptions/failures, interruption in ore transportation from Pacheykhani mine during the rainy season due to road wash off and high transport costs. Studies are now being conducted for identifying the possible corrective measures so as to make a turnaround.
The contact details in respect of SIKKIM MINING CORPORATION are as follows :-
Sikkim Mining Corporation,
(A Joint undertaking of Governments of Sikkim & India)
P.O : Rangpo
East Sikkim.
Pin - 737 132
Tel : (03592) 40771/ 40832
Fax : (03592) 40771
E-Mail : sherap_bhutia@yahoo.com
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CHIEF MINISTER'S SELF EMPLOYMENT SCHEME FOR EDUCATED UNEMPLOYED YOUTH
CHIEF MINISTER'S SELF EMPLOYMENT SCHEME FOR EDUCATED UNEMPLOYED YOUTH Chief Minister's Self-Employment Scheme for providing Self-Employment to Educated Unemployed Youth was announced by the Hon'ble Chief Minister on 23rd March 2002 in his budget speech to provide Self-Employment opportunities to educated unemployed youth in the State, The Scheme would be in operation from June,2002. OBJECTIVE
The Chief Minister Self-Employment Scheme has been designed to provide employment for setting up micro enterprise by the educated unemployed youths. It relates to the setting up of Self-Employment ventures through service and business routes. The Scheme also seeks to associate reputed non-governmental organizations, panchayats, MLA,DC/DDO/SDM,SISI, SIDBI,Industries Agriculture, Animal Husbandry Department,Banks etc. in implementing of CMSE scheme especially in the selection, traning of enterperneurs and guidance in setting up of the venture.
COVERAGE
The scheme is applicable to entire state.
ELIGIBILITY
Any unemployed educated person living in any part of the State fulfilling the following conditions will be eligible for assistance.
Age: Between 22-35 Years.
Qualification: Class X pass, ITI pass, Diploma holder, Graduate/Post Graduate
Residency: The applicant shoud submit documents like copy of Sikkim subject/Domicile
Employment Card: Xerox copy of Renewed Employment Card.
LOAN LIMIT
The maximum limit of loan wil be as follows:
Level I
Graduates & equivalent, Post Graduates Rs. 1,00,000/-
Class X Board Exam passed & above Rs. 50,000/-
RATE OF INTEREST
The term loan shall be intrest free for the first two years for male and there years for female beneficiaries from the date of first disbursement. Thereafter it shall bear interest @6% per annum and shall be payable on half yearly basis.
REPAYMENT SCHEDULE
Repayment schedule for principal installment would rage from 4 to 5 years for after an initial interest free period of 2/3 years as may be applicable and payable on half yearly basis. However, the loanee can make the repayment before the due date.
GUARANTEE ON LOAN
The loan would require personal guarantee and one surety from parent or guardian or Government employee or responsible member of the society and assets created under the scheme would be hypothecated/pledged to the Corporation.
SUBMISSION OF APPLICATION FORMS
The application form duly filled in along with all relevant documents is to be submitted to SIDICO.
DOCUMENTS REQUIRED
CMSES Loan application form along with 2 passport size photographs.
Xerox copy of Mark Sheets of Educational qualification.
Birth Certificate.
Sikkim Subject/Domicile Certificate/Certificate of Identification (any one)
Renewed Employment Card.
Affidavit duly attested by Magistrate.
One Surety from parent or guardian or Govt. employee or responsible members of the society.
TRANING & PROJECT REPORT
The selected candidate have to undergo for one day compulsory Livelihood Options Counseling Programe (LOCP) and a traning progamme designed under the scheme.
DISBURSEMENT
One successful completion of the training programme, the loan will be disbursed by an account payee cheque drawn on the nearest Branch of the Bank of residency.
FOR FURTHER DETAILS PLEASE CONTACT
General Manager
SIDICO/Bhanupath, Gangtok
Phone: 223092,222637,229622 General Manager
SABCCO/Bhanupath, Gangtok
Phone: 225318,229430 Dy: General Manager,
SIDICO, Jorethang Branch
South Sikkim
Phone: 257628
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"Schemes for Sikkim"
"Schemes for Sikkim"
Pradhan Mantri Gram Sadak Yojana
Particulars- Dedicated solely for the construction of rural roads.
Eligibility- Villagers which have not been able to keep pace on the path of progress.
Funds- funds are met fully by the government of India.
Jawahar Gram Samridhi Yojana.
Particulars- aims to enable the villager community to strengthen the villager infrastructure through creation of durable assets as per the local needs.
Eligibility- whole village community. Preference given to SC/ST families living below poverty line and to physically handicapped persons.
Funds- Govt. of India release funds to the DRDAs/ZPs, who in turn releases the funds directly to the Gram Panchayat.
Annapurna Scheme
Particulars- Food grains are given to persons below the poverty line in order to provide them food security.
Eligibility- persons below the poverty line and who are aged more than 65yrs.
Employment Assurance Scheme
Particulars- to provide employment to persons below the poverty line, during the period of acute shortage of wage employment.
Eligibility- SC/ST and parents of child labour withdrawn from hazardous occupations that are below the poverty line.
National Old Age Pension Scheme
Particulars- the govt. gives pension precisely to take care of rural poor above 65yrs of age.
Eligibility- rural poor more than 65yrs who has no regular source of income or financial support from family members.
Funds- Govt. of India gives pension but in some States, they add more money to this and raise the amount of pension.
National Family Benefits Scheme
Particulars- to provide financial security to the bereaved families.
Eligibility- a lump sum amount is given to a surviving member of the household of the deceased.
Swarnjayanti Gram Swarojgar Yojna
Particulars- provides assistance to acquire income generating through Bank Credit and government subsidy. Deals with organization of the rural poor into Self-Help Groups and their capacity building skill development, training and technology and marketing support.
Eligibility- the families below the poverty line (BPL) in rural areas constitute the target group of this Yojna.
Prime Minister Gramodaya Yojna
Particulars- primary education primary health, rural shelter drinking water, nutrition and rural electrification.
Eligibility- to achieve the objective of sustainable human development at the village level.
SIDICO
SCHEMES FOR ASSISTANCE
Composite loan Scheme
Artisans and craft persons are provided loans under this scheme for setting up village/cottage industries in the sector up to a maximum limit of Rs. 50,000 Assistance for both plant/equipment and working capital will be provided under this scheme.
Scheme for Women Entrepreneurs (Mahila Udyam Nidhi (MUN) Scheme) Women entrepreneurs setting up new industrial projects in the SSI Sector with a cost of Rs. 10. Lakhs are eligible for assistance under this scheme.
Special scheme of Assistance to Ex-Servicemen
Ex-servicemen, window of ex-servicemen and disable service persons setting up new industrial projects in SSI Sector and other service industrial project cost of Rs. 15 lakhs are eligible for assistance under this scheme, provide they are below 60 yrs. of age.
Single Window Scheme
New tiny and SSI units where capital outlay of the project including working capital does not exceed Rs. 50 lakhs are eligible for financial assistance under this scheme. The assistance is also granted for the purpose of modernization, technology upgradation and rehabilitation of potentially viable sick units.
National Equity Fund Scheme
The corporation also take care of entrepreneurs who have the requisite technical skills and experience to set up and run innovative enterprises but lack in terms of promoters contribution for such entrepreneurs the corporation provides special assistance in the form of 25% Soft Loan for projects costing upto Rs. 10 lakhs which bears 1 percent service charge.
Hotel Loans
New or Existing hotels under expansion are eligible for financial assistance under this scheme.
Small Road transport operation loan
The corporation extends financial assistance for purpose of transport vehicles to ply as taxis.
Hospital and nursing homes
Small hospitals or nursing homes with minimum 10 beds are eligible for financial assistance. The services of a least one full-time post graduate doctor must be available and concessional rates for lower income groups patients must be allowed.
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IL&FS, Sidico to develop Sikkim infrastructure
IL&FS, Sidico to develop Sikkim’s infrastructure
The government of Sikkim has entrusted Infrastructure Leasing and Financial Services Ltd (IL&FS) with the task of developing infrastructure in collaboration with the Sikkim Industrial Development and Investment Corporation (Sidico).
This is the first time ever that a public-private partnership framework has been used by one of the North East states for complete project management and development. The agreement, which envisages the development of many infrastructure projects in Sikkim, will be initiated with project management and development of National Highway 31A.
The partnership will focus on improving road connectivity between Gangtok and the plains. Thereafter, it would extend to Nathu La. The Sikkim government and ILFS’ association was an important step for the future development of the state as it would help unlock Sikkim’s potential for trade and tourism.
Sikkim is an emerging tourist destination and connectivity to the state is key to the development of trade, tourism and overall economic development. The Union government has also agreed to provide seed capital of Rs 3 crore to the state for undertaking studies for improving the National Highway 31A.
Sidico chairman P D Rai said the development corporation would make efforts to strengthen infrastructure for providing all weather access to the beautiful state to meet the challenges of converting the state into a top tourism. Rai further added that the improvement of this road, a vital link to Gangtok, would assist economic development as it will provide a boost to both tourist as well as trade traffic.
THE Government of Sikkim is slated to sign a memorandum of understanding (MoU) next month with Software Technology Parks of India (STPI) for setting up of a Software Technology Park (STP) in the State. The proposed STP is expected to commence operations in the next six months thereafter, according to Mr P.D. Rai, Chairman of Sikkim Industrial Development & Investment Corporation Ltd (Sidico).
In an interview with Business Line here, Mr Rai said setting up the STP venture would entail an investment of Rs 3 crore. It would ensure ready satellite connectivity and extra bandwidth availability, thereby facilitating incubators as well as activities of R&D and educational institutions. Talks have already been initiated with private sector IT companies, including Tata Consultancy Services, to ensure their participation in the growth of the proposed STP.
The Sidico Chairman informed that several private sector IT companies, including Tata Consultancy Services, have been approached with a request to commence operations from the proposed STP. ``We want them to come and partner with us in our development endeavour. We shall give them business, too. The idea is to foster a regime that will allow us to leverage on connectivity''.
The private sector was also being approached to facilitate the State's e-governance initiatives. He, however, clarified that initiatives taken by the State Government in this regard was presently confined to query-based, citizen-Government interface.
Mr Rai said the other areas in which State Government had sought the private sector's co-operation were eco-tourism, agro-processing, floriculture, healthcare and education.
Eco-tourism had been identified as a niche area of tremendous growth potential wherein the State's bio-diversity as well as flora & fauna could be showcased before the world.
``The idea is to move fast. If we do not do so, the polity, who are the masters, will themselves drive the process'', he observed.
According to Mr Pawan Kumar Chamling, Chief Minister, eco-tourism initiatives were being taken in each block in the State. The idea was to truly transform Sikkim into the `Switzerland of the East'. He said earnings from tourism accounted for around Rs 25 crore annually. The sector had been consistently registering a compounded annual growth of 15 per cent per annum.
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