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Sikkim Chamber Hails Balanced Budget 2026-27 for Growth & Tourism Boost

The Sikkim Chamber of Commerce has welcomed the Union Budget 2026-27, praising its balanced approach to growth and fiscal discipline. President Amar Agarwal highlighted the significant inclusion of Sikkim in the 'Scheme for Development of Buddhist Circuits,' which is expected to boost local tourism businesses and preserve heritage. The budget's continued focus on infrastructure, with increased capital expenditure, and support for health and rural development were noted as beneficial for states with difficult terrain. While acknowledging no immediate tax relief, the chamber expressed encouragement over the focus on regional development and sustainable growth.

Key Points: Sikkim Chamber Welcomes Union Budget 2026-27's Balanced Approach

  • Sikkim included in Buddhist Circuits scheme
  • Boost for tourism-linked small businesses
  • Focus on infrastructure & capital expenditure
  • New Income Tax Act 2025 effective April 2026
2 min read

Sikkim Chamber of Commerce welcomes Union Budget 2026-27, calls it 'balanced approach for growth

Sikkim Chamber of Commerce praises Budget 2026-27 for infrastructure, tourism circuit inclusion, and support for sustainable state development.

"For Sikkim, where tourism supports many livelihoods, the initiative is expected to benefit small businesses... - Amar Agarwal"

New Delhi, February 2

Amar Agarwal, President of the Sikkim Chamber of Commerce, on Monday welcomed the Union Budget 2026-27, praising the Government of India for adopting a balanced approach that emphasizes economic growth while maintaining fiscal discipline, highlighting that the continued focus on infrastructure development, capital expenditure and improved connectivity will support long-term growth and create employment opportunities across the state.

Speaking to ANI, Agarwal expressed special satisfaction over the inclusion of Sikkim in the "Scheme for Development of Buddhist Circuits," which also covers other Northeastern states. He said the scheme will aid in preserving temples and monasteries while showcasing the region's rich spiritual heritage. "For Sikkim, where tourism supports many livelihoods, the initiative is expected to benefit small businesses, including hotels, tour operators, transport services, artisans, and young entrepreneurs," Agarwal said.

He further said the Budget's support for health, education, rural development, women empowerment, and central tax devolution will provide financial stability to states with difficult terrain like Sikkim. While noting that there is no immediate tax relief, Agarwal said the focus on regional development, tourism promotion, and enterprise growth is encouraging. On behalf of the business community, he thanked the Union Finance Minister and the Government of India for recognising Sikkim's potential and supporting inclusive and sustainable development.

Earlier on Sunday, Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in Lok Sabha, her ninth consecutive Union Budget, asserting that it is driven by "Yuvashakti" and based on "three kartavyas".Some key budget announcements included an increase in public capital expenditure to Rs 12.2 lakh crore for FY 2026-27, up from Rs 11.2 lakh crore in the previous year, underscoring the government's continued focus on infrastructure-led growth.

Key initiatives include developing seven high-speed rail corridors connecting major cities, establishing new dedicated freight corridors, and operationalising 20 national waterways over the next five years to promote environmentally sustainable transport systems.

A major highlight on the taxation front was the announcement that the New Income Tax Act, 2025, will come into effect from April 2026, accompanied by simplified rules and redesigned forms to ease compliance for taxpayers. The Budget also proposes reductions in Tax Collected at Source (TCS) rates for overseas tour packages, education and medical expenses under the Liberalised Remittance Scheme.

- ANI

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Reader Comments

R
Rohit P
Good to see focus on the Northeast. Infrastructure and connectivity are the real game changers. The high-speed rail corridors and freight corridors mentioned will help all states, not just Sikkim. But I wish there was more direct tax relief for the middle class. The compliance simplification is a welcome step though.
A
Aman W
Balanced approach? The capital expenditure increase is impressive, no doubt. Rs 12.2 lakh crore is a huge number. This should create jobs in construction and logistics. Hope the execution on the ground matches the announcements. We've seen delays in projects before.
S
Sarah B
The reduction in TCS rates for overseas education and medical expenses is a big relief for families like mine. Sending a child to study abroad is expensive enough without heavy tax collection at source. A practical and empathetic move.
K
Karthik V
While the focus on tourism and infrastructure is good, what about controlling inflation? The budget sounds grand but the common man is still struggling with prices of essentials. Fiscal discipline is important, but so is immediate relief.
M
Meera T
As a young entrepreneur in Guwahati, I'm very encouraged. The emphasis on 'Yuvashakti' and enterprise growth, combined with better connectivity for the Northeast, can unlock so much potential. Hope the schemes are easy to access for startups without too much red tape.

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