Self-reliance answer to blockade
BILAL HUSSAIN
Srinagar: The economic blockade to Kashmir by fanatics in Jammu has forced people to think on alternative ways to fight it and in this regard the economists on Sunday demanded setting up of Economic Forum to work for Valley's economic self-reliance.
The Forum would look at the ways and means for achieving sustainable sovereign economic growth for the Valley.
Many valley-based economist told Greater Kashmir that Kashmir could be financially self-sufficient provided the people would support and work on proper planned strategy. "The economic blockade by hooligans has strained economists to look for self-sufficient economy for the Valley," said an economist.
Noted economist and dean, Social Science Kashmir University, Prof Nissar Ali is for mobilizing internal resource within the state. "J&K has enough potential to mobilize internal resources and make the state economical independent."
The current state budget has a magnitude of over Rs 18,500 crore out of which plan expenditure is about Rs 5500 crore and Rs 13000 crore is non-plan expenditure.
The state is able to manage Rs 3500 crore from its own kitty, he said.
"The figures and facts speak itself of how hard Kashmiri's would have to work to achieve financial autonomy," said Prof Nissar.
There should be an Economic Forum, which would workout the modalities for financial autonomy of the Valley, he added.
"Our state has an 80 per cent financial dependency on the aid and subsidies from the centre. The state is miserably trapped in debt, need of the hour is to be financially self-sufficient," he said, "We should work hard to balance the import-export basket of the Valley."
"We have so many productive sectors in the Valley like handicrafts, floriculture, horticulture, and Hydel power and likes."
"If we will take the case of Hydel power, this sector has enormous potential which can generate huge amount of revenue for the Valley," he said.
According to him J&K's SGDP (State Gross Domestic Product) is over Rs 24,000 crore and out of it Rs 14,000 crore is contributed from the Valley only.
Experts here believe that need of the hour is to strengthen the local economy by means of consuming local goods and all the traditional routes to the Valley should be thrown open for the purpose of trade. "The local goods and services should be preferred over imported products," they say.
Most of the political economists said, "We must try utmost to manufacture most items locally."
"J&K is a consumer state as most of consumable items are imported from other states. Head, Economics Department, Kashmir University," said Prof G M Bhat.
He said that for achieving economic sovereignty, the Valley has to transform its present status of consumer to a producer state. "We need to produce more and more so as to reduce outside dependence," he said.
"New Delhi over decades has yearned for the economic dependence of the Valley by providing sweet doles to the successive state governments," he adds.
BILAL HUSSAIN
Srinagar: The economic blockade to Kashmir by fanatics in Jammu has forced people to think on alternative ways to fight it and in this regard the economists on Sunday demanded setting up of Economic Forum to work for Valley's economic self-reliance.
The Forum would look at the ways and means for achieving sustainable sovereign economic growth for the Valley.
Many valley-based economist told Greater Kashmir that Kashmir could be financially self-sufficient provided the people would support and work on proper planned strategy. "The economic blockade by hooligans has strained economists to look for self-sufficient economy for the Valley," said an economist.
Noted economist and dean, Social Science Kashmir University, Prof Nissar Ali is for mobilizing internal resource within the state. "J&K has enough potential to mobilize internal resources and make the state economical independent."
The current state budget has a magnitude of over Rs 18,500 crore out of which plan expenditure is about Rs 5500 crore and Rs 13000 crore is non-plan expenditure.
The state is able to manage Rs 3500 crore from its own kitty, he said.
"The figures and facts speak itself of how hard Kashmiri's would have to work to achieve financial autonomy," said Prof Nissar.
There should be an Economic Forum, which would workout the modalities for financial autonomy of the Valley, he added.
"Our state has an 80 per cent financial dependency on the aid and subsidies from the centre. The state is miserably trapped in debt, need of the hour is to be financially self-sufficient," he said, "We should work hard to balance the import-export basket of the Valley."
"We have so many productive sectors in the Valley like handicrafts, floriculture, horticulture, and Hydel power and likes."
"If we will take the case of Hydel power, this sector has enormous potential which can generate huge amount of revenue for the Valley," he said.
According to him J&K's SGDP (State Gross Domestic Product) is over Rs 24,000 crore and out of it Rs 14,000 crore is contributed from the Valley only.
Experts here believe that need of the hour is to strengthen the local economy by means of consuming local goods and all the traditional routes to the Valley should be thrown open for the purpose of trade. "The local goods and services should be preferred over imported products," they say.
Most of the political economists said, "We must try utmost to manufacture most items locally."
"J&K is a consumer state as most of consumable items are imported from other states. Head, Economics Department, Kashmir University," said Prof G M Bhat.
He said that for achieving economic sovereignty, the Valley has to transform its present status of consumer to a producer state. "We need to produce more and more so as to reduce outside dependence," he said.
"New Delhi over decades has yearned for the economic dependence of the Valley by providing sweet doles to the successive state governments," he adds.
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