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Search for Resources in a High Income State: A Study of State Finances of Sikkim

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  • Pratap R Jena
  • Satadru Sikdar

Abstract

The paper examines the public financial management (PFM) of Sikkim focusing mainly on resources generation effort and budget management practices. We note that any deviation from the Central transfers creates fiscal stress as the State depends heavily on them to fund vast expanse of social and economic services and infrastructure. The sparse internal resources reduce flexibility to invest in the sectors where the State has inherent advantages. The search for resources to drive the development needs and create higher employment opportunities remain a major drag for the State. The paper looks at the possibilities of strengthening internal resources and improving the efficiency of public spending to ensure value for money. The fiscal stress faced by the State due to decline in Central assistance to the State plan should be considered as an opportunity to make an unbiased assessment of its fiscal capacity and development commitment.

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  • Pratap R Jena & Satadru Sikdar, 2016. "Search for Resources in a High Income State: A Study of State Finances of Sikkim," Working Papers id:10798, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:10798
    Note: Institutional Papers
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    References listed on IDEAS

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    1. Allen Schick, 2010. "Post-Crisis Fiscal Rules: Stabilising Public Finance while Responding to Economic Aftershocks," OECD Journal on Budgeting, OECD Publishing, vol. 10(2), pages 1-18.
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    Cited by:

    1. Pratap Ranjan Jena, 2017. "Indian Variant of MTEF: The Scope and Opportunities to Develop an Effective Budget Planning Process," Working Papers id:11564, eSocialSciences.
    2. Jena, Pratap Ranjan, 2017. "Indian Variant of MTEF: The Scope and Opportunities to Develop an Effective Budget Planning Process," Working Papers 17/185, National Institute of Public Finance and Policy.
    3. Bhattacharya, Rudrani, 2016. "How does Supply Chain Distortion affect Food Inflation in India?," Working Papers 16/173, National Institute of Public Finance and Policy.
    4. Rudrani Bhattacharya, 2016. "How does Supply Chain Distortion affect Food Inflation in India?," Working Papers id:11261, eSocialSciences.

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    More about this item

    Keywords

    Budget management system; tax effort; public expenditure management; fiscal rules; expenditure restructuring; Central; State; money; fiscal capacity; development commitment; high income; state; money;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H76 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other Expenditure Categories

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