CS directs formulation of Panchayat, block, district-level plans
Srinagar, Sept 17: In a marathon budget preparatory meeting cum workshop conducted by the Finance Department, Chief Secretary BVR Subrahmanyam Thursday directed the district administration to make Panchayats and local bodies the units of their respective plan formulation as per the 73rd and 74thamendment of the Constitution.
The Chief Secretary emphasised that all plans should be the sum total of the needs and aspirations of people and represent their suggestions as well. He maintained that it will ensure creation of assets that are conceived by locals and therefore has a greater sense of ownership attached to them.
The CS also directed that release of district plan funds should be made simple and Deputy Commissioners to be fully made involved in the planning process to set priorities within the district as per people’s demand and developmental requirements.
Financial Commissioner Finance, Arun Kumar Mehta said that the workshop is the prelude to the original motive of making planning a people-centric activity. He said that the workshop has been conducted to sensitize Deputy Commissioners about the whole planning process that should be participatory and aspiring as per ground needs of people at large.
The FC said that DCs should identify the projects to be taken up during the annual plans. He further asked them that they will be informed beforehand about envelope of each component of the district budget so that they had an ample preparatory window to plan prudently.
Mehta further stated that J&K is on the mission of fully strengthening the Panchayati Raj Institutions and the budget 2021-22 would be a dedicated exercise towards that.
He asked the officers to coordinate well with each other so that fund release is timely. He urged that there is a need for monthly review of plans and continuous communication between the district administration and Civil Secretariat.
He directed all the Deputy Commissioners to review their next year plans in entirety, do needs assessment and communicate problems for timely resolution.
Principal Secretary, H&UDD, Dheeraj Gupta; Principal Secretary, PWD, Shailendra Kumar; DG Budget, Mohammad Yaqoob Itoo; DG Expenditure Division II, Tariq Ahmad Khan; DG(PP), Shehzada Bilal Ahmad, Joint Director Resources, Shoukat Hussain, Deputy Director Budget, Shafat Yehya were present in the meeting.
All Deputy Commissioners of J&K and DG Expenditure Division I, Ajay Kumar Sharma and many other Jammu based officers and officials participated in the meeting through video conferencing.
Both the Principal Secretaries gave their valuable suggestions regarding making the planning process more effective and expenditure oriented. They besides gave inputs to create a robust mechanism for reaping better results on the ground.
DG Budget in his presentation revealed that for 2020-21 J&K has a District Capex outlay of 5136.40 crore which is 40% more than the outlay of 2019-20. He further informed that Rural Development has been given the highest priority as maximum expenditure of district CAPEX has been incurred on it.
The meeting was informed that the main objective of future budgeting is providing devolving functions, functionaries and funds to PRI’s.
The DC’s were also directed to gear up for the B2V3 program as the same was termed as a festival of transparency and transformation.
Rural mart inaugurated under NABARD scheme
Shopian, Sept 20: National Bank for Agriculture & Rural Development (NABARD) has collaborated with National Rural Livelihood Mission (NRLM) for extending the grant support to SHGs promoted by NRLM for setting up rural marts. These marts aim to promote and provide a platform for women’s self-help groups to market their handmade products.
The rural mart was inaugurated on 20 Sept 2022, at Shopian
Dr AK Sood, CGM NABARD J&K, SSP Shopian Tanushree, NRLM Reyaz Ahmad, and ADDC Shopian, Manzoor Hussain were present for the inauguration ceremony.
The mart will give numerous SHGs an opportunity to sell their homemade goods, including apparel, handloom and handicraft products, homemade food items, dry fruits, and more.
For a period of three years, NABARD has agreed to commit Rs 4.79 lakh as financial support for each rural market. NABARD will pay for the components, such as shop rent, salesman salaries, marketing costs, and other miscellaneous expenses.
Dr Sood, CGM NABARD, urged the female SHG members to use the mart as an opportunity for economic growth and to guarantee the continuity, quality, and quantity of local goods for both locals and tourists.
Additional Mission Director NRLM commended SHGs for taking such a unique initiative in the district.
“Rural mart to be run by female SHGs is the first step towards women empowerment in the district,” said Tanushree, SSP Shopian
Members of various SHGs from the district attended the event. Deputy General Manager NABARD Surinder Singh, District Development Manager NABARD Rouf Zargar, DPMs NRLM Uzma Mehraj and Irfan were also present on the occasion.
Wood shortage, high prices due to Russia-Ukraine war affect timber business in Kashmir
Srinagar: Every summer Altaf Ahmad 35, a small timber trader from north Kashmir Baramulla district used to be busy with his timber business, but this year instead of attending to customers at his unit, Altaf spends his day playing cricket in his village outskirts. The war in far-off lands has affected his business badly.
The prices of KD Wood mostly imported from Russia and Ukraine have soared many times, while the supply had dwindled.
“The Russia-Ukraine war has badly hit our timber business in Kashmir. This is the construction season here, we were expecting our business will double as there was lockdown from the past two seasons because of Covid19, but due to the war we are on the verge of complete breakdown this season too,” said Altaf Ahmad.
Altaf believes that their business is at a halt not only because of less supply of timber but also due to the less demand due to price rises as customers are reluctant to purchase at higher rates.
“There is the increase of 20% to 50% in the rates that has abruptly brought down the demand because customers are unable to purchase on such higher rates. We used to earn a good profit, but are presently on destruction mode where survival seems very much difficult,” said Altaf
Russia is one of the highest timber suppliers in the world and ranks as the seventh biggest exporter of forest products worldwide, which accounts for 22% of the global trade. And it clearly shows that the global market will continuously impact as long the Russia-Ukraine war continues. A country like China, which is in support of Russia in the conflict, has also been affected by limited trade sanctions as it depends on the import of timber, logs, and wood chips even for their domestic use.
Halted construction work
For Sajad, who was planning to complete the pending works of his newly built house and get married next year, the Russia- Ukraine conflict has brought a tsunami of hopelessness because the sudden surge in the timber rates has halted his plans of construction work and marriage back home, he feels it is unbearable to bear all the expenses in such a tough situation where other commodities all already in the surge.
“The sudden increase in timber rates halted all my construction works because, I was expected to purchase timber say for example for Rs 1 lakh, now it will cost me Rs 1.5 lakhs an increase of fifty thousand. Now, I am too confused about whether to do it or not,” said Sajad Ahmad from the Bemina area of Srinagar.
Showkat Ahmad another timber trader from North Kashmir says Ukraine timber was mostly used in Kashmir for the past couple of years as compared to Russian and German timber because Ukraine timber was available at cheaper rates. With a war going on in Ukraine the demand for German and Russia will arise, but it’s going very much costlier for customers.
“People prefer Ukraine timber because it’s easily affordable for them in contrast with German and Russian timber due to its low cost. The war in Ukraine has put everyone both (buyer and seller) in a catch22 situation because one doesn’t know what’s going to happen next,” says Showkat Ahmad who deals with the timber business for the past decade.
Business Kashmir visited various units in central and north Kashmir among them was Changa Timber Gallery, Sopore.
“I am into this business for the last one year but, I think this kind of situation will only benefit those dealers who have piles of stock available in the stores because they can increase rates on that stock which they have purchased at low rates earlier and a trader like me will go more into loss due to these unprecedented rates who’s new into this business and has very much less stock available at times,” says Aijaz Ahmad Changa, a 30-year-old BCom graduate.
Kashmiri Timber Traders mostly purchase timber from Gujarat and in Gujarat, they directly import the timber from Russia, Ukraine, and Germany. Business Kashmir contacted Singla Timbers Private Limited one of the oldest timber factories in Mithirhar, Gandhidham Gujarat who are in this business since 1946.
“The whole world is witnessing inflation it will remain for some time maybe for another year and there is also less supply of timber from the last few months because of that we are witnessing an increase in the rates of timber,” says Pulkit Singla director Singla Timbers.
“Kashmiri traders prefer Ukraine timber because of low price, but at the same time Ukraine timber also differs in quality in comparison to others.”
He says the lack of local wood production forces people to buy imported wood.
“India only imports 2% of the world produced timber. The local timber in India is not of that quality and one has gone through a long process before getting its access. The forests are like agricultural fields for countries like Russia and Ukraine, they cut the trees and do the plantation of it again and again but, in India, that thing is lacking. It’s also because of the weather,” he said.
Altaf and other timber traders in Kashmir are now waiting and praying for the end of the war in Ukraine so that their business will see that charm again.
“I only want the war in Ukraine to end, so that our miseries will also end,” concluded Altaf.
Omicron, economy and budget deficits
The World Health Organization on November 26, 2021, labelled variant B.1.1.529 a variant of great alarm, named Omicron, on the advice of WHO’s Technical Advisory on Virus Evolution (TAG-VE). Extensive evidence was presented to this advisory that Omicron has several mutations affecting its behaviour.
Research is coming up at different levels to get hold of different aspects of Omicron in a better way. There is much ambiguity about whether there is more transmission in Omicron as compared to other variants, including the Delta variant. South Africa has seen the number of people testing positive increasing as a result of this variant. Many epidemiologic studies are in progress that aims at knowing if the positive cases are rising because of Omicron or some other factors.
One of the biggest aims of economies is resource allocation involving a balance between our priorities and competing needs so as to get the most suitable economic action. Any fiscal policy demands a judicious attitude in pursuing the goal of resource allocation and distribution. Fiscal discipline should reduce fluctuations in income, output, and employment.
Whether it is omicron or anything else the fact is that all facets of the current pandemic have in one way or the other way affected economies of the world in general and underdeveloped in particular. It is very important to correct all economic and social odds.
Fiscal indiscipline is an important characteristic related to all shocks of all times and COVID19 is no exception. Fiscal indiscipline implies that our governments are not maintaining good fiscal positions that coincide with macroeconomic stability and economic growth that is all-inclusive and sustained. Borrowing in large numbers and amassing debt like anything are enemies of every economy. The dual actions are responsible for the creation of fiscal crunches. To achieve the target of Fiscal discipline it is necessary for governments to maintain fiscal positions that are consistent with macroeconomic stability and economic growth that is sustained by letter and spirit. In order to create and maintain fiscal etiquette, there should be an avoidance of debt accumulation and excessive borrowing.
One of the biggest aims of economies is resource allocation involving a balance between our priorities and competing needs so as to get the most suitable economic action. Any fiscal policy demands a judicious attitude in pursuing the goal of resource allocation and distribution. Fiscal discipline should reduce fluctuations in income, output, and employment. COVID19 and all its variants no doubt have generated fiscal indiscipline which is why all governments should be prudent to create ‘‘budgetary beanbags’’ to combat all shocks and disturbances and to deal with anticipated economic and fiscal burdens.
Economists surveyed by Reuters argue that economies should emphasize fiscal judiciousness as there is a declining trend in the Indian economy. Lead Economist at Emkay Global Financial Services, Madhavi Arora argues that Omicron and the allied bad repercussions have a short end and is in no way a long-lasting wave.
A fiscal deficit connotes a gap in a government’s income compared with its spending thereby meaning that there is a fiscal dearth in the government spending beyond its means. There is a dip in the fiscal deficit from 135.1% in the April-November period of the previous financial year to 46.2% in the current financial year. There is a need for fiscal consolidation and all the fiscal policies carried out by the government at all levels must aim at reducing their deficits and debt stock build-up.
In order to understand Omicron and its impact on the Indian economy and other emerging markets, planners need to Google and start thinking about consolidating their budget deficits post COVID19 years. They need to include a series of fiscal responsibility laws, fiscal guidelines, and fiscal assistance (dynamic organizations in particular).
The strategy and implementation policy, alongside economic (fiscal) and political commitment are necessary and sufficient conditions for the effective strengthening of fiscal discipline during shocks.
Dr Binish Qadri is an assistant professor at the Department of Economics, University of Kashmir. You can reach her at [email protected]
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