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| Govt needs corrective measures for ending financial crunch | | | Over the years the successive state Governments have been banking on liberal financial assistancee.Strangely enough despite the fact that the annual plan has increased from Rs.3,000 crores to Rs.6,000 crores during the last over six years one wishes to know the main factors that contribute to the never ending financial crunch in Jammu and Kashmir.It is amazing to see that the financial stringency in spite of the fact that the cenntral Goverment has been reimbursing in full the expenses incurred on security related issues.Not only this it has been providing additional funds for purchasing power from the northern grid and still there is acute electricity shortage in the state.This question needs to be examined and reasons for continued financial difficulties should be identified so that corrective measurees were adopted.If one makes a preliminary exercise on identifying reasons for financial crunch in Jammu and Kashmir one will come to the conlusion that
industrial and employment sectors are mainly r esponsible.Over the years it has been seen that the public sector enterprises have been eating into the financial vitals of the state because most of these corporations suffer recurring losses.The state Government neither initiated corrective measures for bringing these public sector corporations out of their sickness and losses nor did it shut those units which have been suffering heavy losses and do not have any chance for
revival.These enterprises have become simply centres for giving jobs to unemployed youths with the result each enterise is over staffed.Something has to be done.In addition to this the successive state Governments have not succeeded in getting heavy private and Government investment in the state despitee the fact that the centre had kept lucrative incentivees available for the new enterpreneurs.The Government needs to find the reasons for it because during the last five years there has been an investment to the tune of over R s.3,000 crores in the industrial sector in Jammu and Kashmir against over Rs.70,000 crores in Himachal and Uttranchal Pradesh.Yes,militancy related violence could be one reason but it should not have affected industrial growth in Jammu.Reports inddicate that several big industrial houses had shown their interest in setting up their units in Jammu but the successive state Governments discouraged because the industrialists were told
to set up their units in Kashmir and not in Jammu. Secondly,the way the successive state Governments have been providding jobs to the unemployed youths in the Government sector only too has burdened the state exchequer.So far no concrete steps have been taken for diversifying job avenues.This could have been done had the Goveernment laid emphasis on developing agro-based and horticulture based industrial units.The focus has been on setting up units pertaining to manufacturing of electronic and electric goods.Overall misappropriation of funds earmarked for developmeent projects and inordinate delays in the completion of several development projects also contribute to the financial messs in Jammu and Kashmir.If various corrective measures were not taken the st atate will have to bank on doles from the central Government thereby puttting to shamee those demanding Azadi.
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