Tripura Education Minister Tapan Chakraborty declared a holiday on Tuesday at all educational institutions in the state in honour of Dipa.
"In independent India, Dipa is the first Indian woman to take part in the Olympics and also, in the final event, do the risky Produnova vault in artistic gymnastics. Not getting medal is not a big issue, it is historic that she took part in the final event," Sarkar said.
"Dipa is cool-minded, energetic, hard-working, sincere. She will sit for her MA examination from Tuesday. I believe she will do better in this test too," said Sarkar, himself a sports lover.
He urged the central government to announce sports and youth policies, build sports infrastructure to find hidden talent in the country.
Tripura Sports Minister Sahid Chowdhury reminded the gathering that just as Dipa was preparing to qualify for the Rio Olympics, the Gymnastics Federation of India had split into two groups due to an internal feud.
The Tripura government had sought the intervention of the union sports ministry and it was only then that Dipa's trip to Rio was cleared, he said.
"The Tripura government would arrange all international-standard apparatus and infrastructure for Dipa and other upcoming gymnastic and sports talent in Tripura so that they bring laurels for the state and the country at national and international events," he said.
"We want to make many more Dipas in Tripura. Already, two young gymnasts from the state -- Asmita Paul and Avishek Saha -- have won medals at various national and international meets," the minister added.
Agartala municipal corporation mayor Prafullajit Sinha, coach Nandi, Dipa's father Dulal Karmakar, first coach and Nandi's wife Soma Nandi, and her mother Gauri Devi, among others, attended the ceremony.
Over 300 school students performed a dance and drill at the packed Swami Vivekananda Stadium.