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National Statistics Day: Status of ‘End Hunger’ in J&K

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Status of ‘End Hunger’ in J&K

Altaf Hussain Haji

Crowdfunding for businesses in J&KHunger is a burning issue for every UN member country. This is the reason that commemorations of this year’s National Statistics Day in our country has been aligned to create awareness about hunger as per the UN target of Sustainable Development Goals. In India, Statics Day is celebrated every year on June 29 in remembrance of Prof  PC Mahalanobis for his contribution in the field of economic, planning and statistics. The theme of this year Statistics Day, June 29, 2021, is ‘End Hunger, Achieve Food Security and Improved Nutrition’. Hunger and malnutrition badly affect the development and wellbeing of the States/UTs of the nation and the progress of the reduction of percentages of hunger at the national level is still off track. Jammu and Kashmir is also among one of the UTs where hunger exists as per the current report of SDG released by the government of India. There is also a long road ahead to reduce hunger and malnutrition by or before 2030 in Jammu and Kashmir.

Undernourishment, malnutrition and wasting are different ways of hunger found in every country in the world. Undernourishment occurs when people do not intake enough calories to meet minimum physiological needs. Malnutrition is caused when the peoples have an inadequate intake of protein, energy and micronutrients. The third way of hunger is wasting which usually the result of starvation or disease of acute malnutrition with substantial weight loss.

 Status of ‘End Hunger’ in J&K

As we know that second goal of Sustainable Development with agenda Zero Hunger is one of the important goals out of 17 Sustainable Development Goals. It is to mention here that the United Nations (UN) General Assembly held on September 25,  2015, adopted the document titled “Transforming our World with the 2030 Agenda for Sustainable Development”.  The SDGs are a comprehensive list of global goals integrating social, economic and environmental dimensions of development. Zero Hunger is the second Sustainable Development Goal (SDG2) with the aim to end hunger, achieve food security and improved nutrition and promote sustainable agriculture. The SDG2 has 7 targets such as beneficiaries covered under the National Food Security Act (NFSA), 2013, children under five years who are underweight, children under five years who are stunted, pregnant women and adolescents aged 10- 19 years who are anaemic, the rice and wheat produced annually per unit area (Kg/Ha) and Gross Value Added (constant prices) in agriculture per worker (in lakhs/workers)  to measure the availability of food, improvement in nutrition and promotion of sustainable agriculture respectively.

The composite index score of the UT Jammu and Kashmir in SDG-2 goal has improved by 8 points from 62 in 2019-20 to 70 in 2020-21 as per SDG report 2020-21 released by NITI Aayog.  The UT Jammu and Kashmir among the Seven States and four UTs bagged a position in the category of Front Runners and said as the increase in overall score, the Jammu and Kashmir in Sustainable Development Goals will achieving Zero hunger in time.

Here are some indicators of Jammu and Kashmir in comparison at national level figure regarding the progress of End hunger by or before 2030 of the agenda of SDGs.

At the national level the percentage of beneficiaries covered during 2019-20 under the National Food Security Act, 2013 ((NFSA) is 99.51 percent and for UT Jammu and Kashmir, it is 97.02 percent achievement as the target fixed to achieve it 100 percent by 2030.

At the national level, the percentage of children under five years who are underweight is 33.4 percent and for UT Jammu and Kashmir, it is 13 percent as the target to reduce it 1.9 percent.

At the national level, the percentage of children under five years who are stunted is 34.7 percent and for UT Jammu and Kashmir, it is 15.5 as the target to reduce it 6 percent.

At the national level, the percentage of pregnant women aged 15-49 years who are anaemic is 50.4 percent and for UT Jammu and Kashmir, it is 38.1 as the target is to reduce it  25.2 percent.

At the national level, the percentage of adolescents aged 10-19 years who are anaemic is 28.4 percent and for UT Jammu and Kashmir, it is 15.8 as the target is to reduce it to 14.2 percent.

The rice and wheat produced annually per unit area (Kg/Ha) was found 2995.21 Kg/Ha at the national level and for UT Jammu and Kashmir it is 2339.65 Kg/Ha as the target is to achieve it 5322.08 Kg/Ha

The Gross Value Added (constant prices) in agriculture per worker (in Lakhs/worker) was calculated as 0.71 at the national level and for UT Jammu and Kashmir, it is 0.88   as the target is to achieve it 1.22.

The above indicators pertaining to Jammu and Kashmir showed that there is still a long road ahead to reduce hunger and malnutrition by or before 2030 in Jammu and Kashmir and it is too difficult to achieve or reduce targets due to disturbance and law and order situation, unique features and a strategic location. Further, the index score at the national level for end hunger is 47 while UT Jammu and Kashmir have 71 which seems that the situation is somehow better.

As UT Jammu and Kashmir have unique features and a strategic location, the speedy sustainable development of Jammu and Kashmir needs an integrated approach. The top priority of the government should be to create a secure environment by improving the law and order situation. State finance should also receive proper attention in order to ensure better fiscal management. A sound policy should be devised to exploit the potential in the sectors of strength. In a nutshell, sound policy and good governance can lead the UT of Jammu and Kashmir to a faster development path and is able to achieve the SDGs well in time. Further, there should be a sizable increase in the utilisation of funds for rural development schemes in the UT and the pace of implementation of programmes needs to be accelerated.

Also, efforts are needed for the development of infrastructure, generation of employment and alleviation of poverty in rural areas to bring about the desired socio-economic development of Jammu and Kashmir.  There is also an urgent need to undertake an impact assessment study of the schemes implemented by the government on the socio-economic conditions of the people. Such a study would help in assessing the ground realities of the impact of various schemes on the social and economic conditions of people inhabiting these areas.

At the last, I want to mention here that by working on SDG2 last few years, the measures are taken such as promoting sustainable agriculture, supporting small-scale farmers and creating equal access to land, technology and markets in order as a fundamental rule to the eradication of hunger in Jammu and Kashmir, a number of initiatives have been taken by the Government of India and UT government to ensure food for all and has launched food security programmes owing to the National Food Security Act, 2013. The stress on sustainable agriculture may be observed from the fact that one of the missions under the National Action Plan on Climate Change (NAPCC) is the National Mission on Sustainable Agriculture (NMSA). In the end, as per the current report, UT Jammu and Kashmir have made significant progress in the area of food security despite having several challenges.

Altaf Hussain Haji, ISS, is Deputy Director General National Statistical Office, Shimla. He can be contacted at [email protected]

 

Economy

Crowdfunding for businesses in J&K

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Crowdfunding for businesses in J&K

Altaf Hussain Haji

Crowdfunding for businesses in J&KThe UT of Jammu and Kashmir has unique features and a strategic location that tells a story of various sectors for employment, development and wellbeing. The manufacturing and services sectors of Jammu and Kashmir suffered a lot due to a number of reasons in the last two decades and affected employment, development and wellbeing. As per current reports of Sustainable Development Goals (SDGs) of the government of India, unemployment increased and overall less development happened in Jammu and Kashmir.  At this movement, the government and other institutions need to think of an integrated approach in order to tackle the serious problems of unemployment, derailment from development and little attention towards various indicators of SDGs. The initiatives of the government must be speedy attention for trying to reduce unemployment through sustainable manufacturing and services sectors in Jammu and Kashmir.

The government is trying hard to create a secure environment for improving the manufacturing and services sectors in Jammu and Kashmir.  The current pandemic and instability derailed the institutions of government and non-government sectors and created a lot of problems of unemployment particularly in the service sector in Jammu and Kashmir in the last few years. There are only better hopes of employment in the service sector in Jammu and Kashmir due to the vast avenues of the tourism sector.  Further, a large number of small entrepreneurs and enterprises of manufacturing and services sectors in Jammu and Kashmir did not sustain due to the financing through various sources.

The lack of financing is the only reasons here behind the manufacturing and services sectors for their sustainability establishment in Jammu and Kashmir in the present scenario. It is to state here that state finance should also receive proper attention in order to ensure better fiscal and financial management for such small entrepreneurs and enterprises which played an important role in the business venture or economy of Jammu and Kashmir. A sound policy should be devised to exploit the potential in the sectors of strength. In a nutshell, sound policy and good governance can lead the UT of Jammu and Kashmir to a faster development path.

Also, efforts are needed for the development of infrastructure, generation of employment and alleviation of poverty to bring about the desired socio-economic development of Jammu and Kashmir.  There is also an urgent need to undertake an impact assessment study of the schemes implemented by the government on the socio-economic conditions of the people, particularly those belonging to the economy of various sectors.  On the other side crowdfunding, a new concept developed for new business ventures can be useful at this moment in Jammu and Kashmir

The concept of crowdfunding has become an increasingly popular way for individuals and businesses alike to raise much-needed capital for self-interest and employment generation for others. The financially sound persons may help to promote the business and generate employment for others.

There are different types of crowdfunding such as donation-based, reward-based, equity-based, debt-based and real estate-based crowdfunding. Donation-based crowdfunding is simply asking for a small donation from a large number of people to raise money for personal needs as well as community-based projects like raising money to cover medical expenses or an unexpected financial crisis or raising funds for local projects like a community garden or new park.  Reward-based crowdfunding is another common type of crowdfunding, typically used to raise funds for a new startup or organization. In equity-based crowdfunding, it is the best for small to medium-sized companies that are seeking a large amount of capital to launch or grow their business.

Debt-based crowdfunding is a fast and easy way for both individuals and businesses to raise the money they need. Debt-based crowdfunding works by collecting donations with the promise to pay them back at a later date and real estate crowdfunding is becoming more popular for investors recently who want to put their money in real estate, without the hassle of getting a traditional loan or the obligation of owning all of a single property.  Typically, an individual or a real estate company will collect funds from investors to pay for a large property, like an apartment building.

The financially sound persons of Jammu and Kashmir may help to use the concept of crowdfunding such as reward-based crowdfunding, equity-based crowdfunding, and debt-based crowdfunding for a new or existing business venture, employment generation and development of the economy of the UT.   One of the reasons that manufacturing or others sectors do not grow in Jammu and Kashmir is the lack of awareness of the concept of crowdfunding among business venture culture.

It is true that the rich people of Jammu and Kashmir did not donate to business ventures for self-benefits and help others. The financially sound persons in Jammu and Kashmir mostly keep their wealth held with themselves and do not think of using excess money as crowdfunding to benefit the future generation.  A successful crowdfunding round will give a startup more leverage to come up with better terms and conditions.  As crowdfunding becomes more popular and there is a growth of the number of platforms facilitating transactions, it is extremely important for the right ingredients needed to attract the maximum number of investors.

It is suggested to consider some important facts before crowdfunding for a startup project or new business venture.

Crowdfunding strategies

Strategic Use of Social Media:  It is a good idea to have a wide reach as possible through various modes of publicity including social media. This means picking the right networks to complement marketing and content strategy and ensuring that the right supporters are targeted.

Make and Use Video Clips:  The attractive professional video clips made properly can help potential donors to get a better idea of what is being pitched. A product or service can be seen in action rather than through a series of stills or a wordy brief.

Wait for the Right Time to Ask for Money: With the right enthusiasm and the story of the project presented, people will want to add support naturally. Make sure the backers know what they are supporting and what they can expect in return. Backers should be allowed to invest as little or as much as they want.

Build Interest: Before and during the campaign, it is necessary to generate interest in the business. A pre-existing fan base can help a campaign achieve a strong start. A blog, a documentary, or a social media presence can help generate this interest. The sharing ideas of project/business venture and get feedback and expert guidance on how to improve during crowdfunding.   The number of investors who can track the progress also may help you to promote your brand through their networks and become the most loyal customers through the financing process.

With interaction during conducting annual surveys of industries of National Statistical Office (NSO), Field Operations Division, some entrepreneurs and owners of enterprise of the manufacturing sector in Srinagar, there is a lot of requirements of crowdfunding at this movement in Jammu and Kashmir for the sustainable establishment, economic development and wellbeing of the society. The Good Samaritans of Jammu and Kashmir who are financially sound should come forward for help through crowdfunding particularly reward-based crowdfunding, equity-based crowdfunding and debt-based crowdfunding to save the economy and improve the wellbeing of the people of Jammu and Kashmir.

The new way happens only if the trust will be built among investors and loyal customers during crowdfunding.  Only Trust makes this concept in successes for the development and wellbeing of the people. At last, it is to say that crowdfunding must be appreciated for startups of new initiatives and ideas. The government should also recognize such initiatives and ideas for the betterment of the economy of Jammu and Kashmir.

Altaf Hussain Haji, ISS, is Deputy Director General National Statistical Office, Shimla. He can be contacted at [email protected]

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Economy

Beyond GDP: The economy of well-being

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Beyond GDP: The economy of well-being

Altaf Hussain Haji

All of us have heard about the term ‘standard of living which means all the elements in someone’s life that contribute to their happiness.   Standard of living is a broad term that encompasses many factors including some that are not bought and sold in the market.  The standard of living is an economic opportunity that focuses on basic material factors such as income, gross domestic product (GDP), life expectancy, etc.  It is closely related to the quality of life, which can also explore factors such as economic and political stability, political and religious freedom, environmental quality, climate, and safety. In the present scenario, economic growth is commonly taken to mean a sustained increase in real GDP per capita and somehow linked with social, economic, and environmental growth. There are a lot of challenges today regarding growth and standard of living.

To solve the social, economic, and environmental challenges faced today by governments and other institutions around the world that need to embrace new ways of thinking and actively engage in widespread systems innovation to make real progress toward a healthier and more prosperous life.

The economy of well-being highlights the need for putting people at the centre of policy. It is important to move away from an attitude of “grow first, redistribute and clean up later”, towards a growth model that is equitable and sustainable from the outset.

The well-being economy encompasses a diverse array of ideas and actions aimed at advancing social well-being through governance structures that support peaceful co-existence and meet basic human needs. A well-being economy provides people with equal opportunities for advancement, a sense of social inclusion, and stability—all of which contribute to human resilience and, importantly, sustains and supports harmony with the natural world. It aims to serve people and communities first and foremost and offers a promising path toward greater social well-being and environmental health. The current economic system s become addicted to “growth at all costs”, as measured by Gross Domestic Product (GDP) but ignores the wellbeing of the individuals at all levels of development. Instead, we need an economic system that takes a preventive approach to social and environmental challenges to ensure that the kinds of related, follow-on problems of the standard of living or a person’s happiness.

The level of GDP per capita, for instance, captures some of what we mean by the term standard of living, as illustrated by the fact that most of the migration in the world involves people who are moving from countries with relatively low GDP per capita to countries with relatively high GDP per capita.

The GDP is a limited tool for measuring the standard of living because many factors that contribute to people’s happiness are not bought and sold. The GDP includes what is spent on environmental protection, healthcare, and education, but it does not include actual levels of environmental cleanliness, health, and learning. GDP includes the cost of buying pollution-control equipment, but it does not address whether the air and water are cleaner or dirtier. GDP includes spending on medical care, but it does not address whether life expectancy or infant mortality have risen or fallen. Similarly, GDP counts spending on education, but it does not address directly how much of the population can read, write, or do basic mathematics.

The OECD is one such organization, which has been working on the measurement of well-being beyond GDP since the 1970s and has seen the concept of well-being develop from an interesting side-note into a well-established agenda for policy. As we know that the Organization for Economic Cooperation and Development (OECD) is an international organization that works to build better policies for better lives.  The main goal is to shape policies that foster prosperity, equality, opportunity and well-being for all at the international level. The OECD’s Well-Being Framework has further developed the concept by providing us with a clear definition and rigorous analytical basis. The Framework for Policy Action on Inclusive Growth has helped identify the channels through which governments can promote greater well-being and sustainable economic growth for all their citizens.

The economy of well-being highlights the need for putting people at the centre of policy. It is important to move away from an attitude of “grow first, redistribute and clean up later”, towards a growth model that is equitable and sustainable from the outset.

An economy of well-being has four main pillars. The first pillar is education and skills. Skills are the most important driver of long-term economic growth. The policy can help leverage the benefits of education. For example, higher attendance in pre-primary education, greater autonomy of schools, reduced gaps between academic and vocational branches of education and higher funding for tertiary education can all boost human capital, while also improving the efficiency of education systems. At the same time reducing inequalities of access and opportunity at school is essential to promote better educational outcomes, as countries with high levels of inequality in education and skills also record lower average educational performance.

The second pillar is health. Evidence shows that good health fuels economic growth, productivity and individual earnings. Good health is also a key factor for people’s well-being. It allows them to invest in education and skills, access quality jobs and enjoy a better quality of life.   It has seen that increased spending has driven much of the improvement in health outcomes, but we need to go beyond. This means looking at the range of services covered by primary healthcare, as well as addressing new or persistent risk factors. Reducing inequalities of access is also essential to promote better health outcomes, as the proportion of people in poor health weighs heavily on key health indicators. Moreover, health inequalities are often stratified along economic, educational or occupational lines. For instance, unmet care needs are substantially higher for low-income groups.

The third pillar is social protection and redistribution. Both play an important role in reducing economic volatility and fostering resilience. They also prevent inequality today from translating into inequality of opportunities for the next generation. Recent OECD research confirms that lower inequality is associated with higher GDP growth.  Combining income-support schemes with active labour market policies provides effective protection and supports employment. Promoting more progressive tax and benefit systems can help countries promote equality of opportunity and social mobility. Social protection systems also need to adapt to a changing world of work, notably by improving coverage for non-standard workers, and to evolving social risks, notably the increasing prevalence of lone-parents and frail elderly.

The fourth pillar is gender equality. Raising women’s employment and hours worked can deliver productivity gains and higher GDP growth. It can also reduce income inequality, strengthen resilience and consolidate the middle class.

There are many other dimensions to an economy of well-being, for instance, the quality of housing and infrastructures, as well as the equitable access to those; and of course the quality of the environment that significantly affects health outcomes, especially among the poorest.

The fact that GDP per capita does not fully capture the broader idea of the standard of living has led to a concern that the increase in GDP over time is illusionary. It is theoretically possible that while GDP is rising, the standard of living could be falling if human health, environmental cleanliness, and other factors that are not included in GDP are worsening. Fortunately, this fear appears to be overstated.

Since 1970, the air and water in the United States have generally been getting cleaner. New technologies have been developed for entertainment, travel, information, and health. A much wider variety of basic products like food and clothing is available today than several decades ago. GDP does not capture leisure, health, a cleaner environment, the possibilities created by new technology, or an increase in variety. Ignoring these factors, GDP would tend to overstate the true rise in the standard of living.

At the last to mention here, that during COVID19 pandemic in the whole world regarding health and well-being. The pandemic affects badly the standard of living due to the poor health system at every level and is continued to create many hurdles in the processes of wellbeing. It is difficult to maintain a healthy lifestyle when we are in the middle of a crisis like this. The uncertainty and worries related to finances, childcare, elderly parents, and job security disrupt our routines, our lifestyles and mental health. The uncertainty about the future, the ceaseless news coverage and a constant social media-driven flood of messages can increase our sense of anxiety. It is also important to maintain a healthy lifestyle and get back into a routine at this movement. This also showed how important is wellbeing as compared to gross domestic product nowadays.

Altaf Hussain Haji, ISS, is Deputy Director General National Statistical Office, Shimla. He can be contacted at [email protected]

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Second wave of COVID19: Kashmir businesses feel the heat

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SYED JESARAT

Srinagar, May 27: While the COVID19 pandemic created havoc across the world, affecting the economy and businesses throughout the globe, India – one of the worst-hit countries by the coronavirus – has to face an economic recession after decades as the GDP for 2020-21 is expected to contract by more than 7 percent. However, the businesses in Jammu and Kashmir have to face a double whammy. First, it was the August 5, 2019 clampdown and internet ban, and as people here were struggling to come out of its impact, a countrywide lockdown was announced to curb the deadly virus. This year also as the second wave of COVID19, which proved worse than the first one, hit the country, restrictions were again put in place for the movement of people as well as the opening of markets, educational institutions and public places hitting hard the already beleaguered business. To know the impact of these back to back lockdowns on the Kashmir economy, Business Kashmir spoke to some businessmen and industrialists about their assessment of the situation.

Kaisar Ahmad Khan

Al-Furqaan Enterprises

Trade & Distribution sector

My company is going through a financial crunch. We provide stock to our retailers but most of the payments remain withheld. We have about 10 employees working with us, who are dependent on the firm. We have to pay salaries to our employees as well as rent of godowns, which makes it even more difficult to cope with the loss.

The trade sector is hugely impacted by the COVID19 pandemic and prior lockdowns as well. Due to prolonged lockdowns, consumer buying power has gone down. Even those people who have money are only buying essentials and deferring bigger purchasing decisions as the situation is unpredictable.

The government needs to take some concrete steps to facilitate the business sector. Refinancing of loans and interest subvention is of no help to businesses like ours. The situation is like that we have to start it all from scratch now because Kashmir has witnessed three lockdowns consecutively. Government should come up with a good package that will deal with business as well as present the COVID19 situation simultaneously.

Dawar Mir

MA Mir and Co.

Govt Contractor

COVID19 pandemic has resulted in halting major construction activities. While the construction material prices have shot up by more than 35%. Be it gravel, sand, cement or steel, all items are now costlier as compared to the rates before August 5, 2019. But the government rates are locked until the completion of a project and as the work gets delayed due to lockdowns, it takes away the profitability.

I believe, the industrial sector is witnessing a 90% loss, since the business is not going well we still have to pay the workers which drain the capital. Though during the present phase of lockdown, passes have been allotted to the industry people. But these passes are not many times entertained by the lockdown enforcing people on the ground.

Though the government has a lot of policies on paper regarding industry and business, all they need to do is implement those policies, which is not happening. Development funds are delayed, and payments are pending for the last 3 years. If the government implements the policies there might be some respite from the misery of losses.

Ibrahim Beigh

5G Mobile Services

Cell Phone sale& Service 

COVID19 pandemic has affected the daily work of our firm badly. Mine is a product-based as well as a service-based business. Due to COVID curfew and lockdown, the official store at Khanyar is closed. The business is run through online mode now and delivered to customers through logistics service providers which have impacted the sales as the footfall has reduced to a significant amount in our retail store. The online platforms cannot compensate for that. Economic scenario has deprived to a large extent and spending power of people is very low compared to what it is in normal conditions.

There is no display of mercantile in the retail store, owing to present circumstances, all sales are generated online right now. We are offering free delivery within adjoining areas and paid delivery in farther areas.

The business is witnessing a 50-60% dip in sales on average because of the current lockdown.  The store has 5-6 employees, all working on a commission basis presently, no salary structure is being applied for now.

Kashmir’s economy has been disturbed since 2014 itself, due to natural as well as political conditions, keeping in view all these factors and knowing this is the third consecutive lockdown, the administration should strike a balance between pandemic as well as business and ease restrictions for businesspeople to some extent.

Certain leniency should be provided to businesses, as holistic lockdown will halt the economy completely. The opening of markets should happen in a phased manner under a particular controlled mechanism.  Society has hand-to-mouth segments of people as well who are solely dependent upon the small businesses they own, keeping that in view the stringent standards of lockdown should ease to some extent.  Also, the administration needs to facilitate the smooth movement of delivery persons, as it’s not easy for them to move freely during such stringent lockdown.

Sheikh Samiullah

FastBeetle

Logistics & Courier Services

FastBeetle has witnessed good growth during the ongoing lockdown. People want all the essential to get delivered to them at their doorsteps, which boosted the logistics business. This sector of business has seen a significant amount of profit.

The mobile application makes it very easy for people to place an order. The company has employed 35 people till now and is doing very well.

Kashmir has witnessed several lockdowns which have resulted in less economic growth. There are other sectors of business that have got severely affected due to the lockdown. Government officials should come up with some relief packages for business sectors so that the ongoing losses can be compensated.

The movement of delivery persons during the COVID curfew is a matter of concern. Their movement is usually restricted, and they are even beaten most sometimes, but somehow they manage to deliver the orders by following Covid- SOPs.’

Kashmir businesses feel the heat

Daniyal Qureshi

Greenway Enterprise

Packaging Industry

The current lockdown has resulted in a decline in production at our factory.

Initially, the movement was not allowed from home to factories, then the administration ordered movement passes to people in estates but on grounds, the situation was quite opposite. Since the markets were closed, the buyers were not ready to accept the products which affected the product generation. Even though the factory was closed, the payment to labourers and utilities needs to be paid. The production made is zero but banks are continuously charging the interests from the firms.

Since there is no sale, we are not able to generate any money, what will we pay to a bank? Because of this, our EMIs are continuously piling up.

Currently, Greenway Enterprise has seen a 30% dip in production generation. The national lockdown has resulted in an escalation in prices of raw materials as well. Presently, losses are being assessed, and it can be said that the current state of Kashmir’s economy is not viable.

Government should come up with effective policies to compensate for the losses.

With proper implementation of COVID19 SOPs, markets should be at least opened alternatively.

Government should consider a proper plan of 5 years for rehabilitation, revival and restructuring of the business sector. The economy is under crunch and 40% – 50%  capital infusion will not help in reviving the market.

Asif Hussain

Fair Fax Holidays

Tour & Travel

Tourism sector is one of the worst-hit sectors in Kashmir. Except for a brief period of 2-3 months, tourism activities have remained suspended in Kashmir since August 2019.

The employees working with us are very badly impacted. To sustain we provide them with a salary but at the same time, everyone wants to see growth in their job, which unfortunately can’t be achieved in Kashmir.

The tourism sector saw a boom for the winter month for a while, at a winter sports event in Gulmarg and in April, at tulip festival opening. So, keeping that in view many investments were made beforehand but due to the sudden rise in Covid cases and imposing of lockdown, all the investments are in a loss. The graph of tourism has seen improvement only for two times since three consecutive lockdowns it’s in decline mode.

Forget about gaining, even to sustain markets are not open.

Hotels, restaurants are all shut since lockdown and the earning is zero in the tourism sector.

The expectations of the tourism sector now lie with the Amarnath Yatra, which is supposed to get functional in July.

The objectivity is lacking in Kashmir’s trade and commerce sector. The state has no backup plan, even after witnessing many unstable conditions. The government is not taking any solid steps to help the people who went through huge losses.

The administration should frame policies that can be implemented on grounds keeping in view the Covid-19 SOPs.  It seems that we have to live with COVID, for now, so the strategies to sustain the economy should be made very effectively. Government should start home-based projects for youth who are unemployed and can’t find work due to the pandemic.

Firdaus Bhat

Manchester Education Consultancy Services

Service Sector

COVID19 has badly impacted us, as almost every country is dealing with it right now. Travel and movement in many parts of the world are either banned or restricted. Earlier, it would be lockdown in Kashmir and students would like to go outside for the studies but this time situation is the same everywhere. So the kind of service we provide, overseas education, is completely down and my venture is running in losses. I have to pay the salary to my employees regularly.

Not only the educational consultancies but overall the education sector is in losses. But despite that, I’ll argue that lockdown should continue until it is required to rein in this deadly virus. Health should be a priority for everyone.

 

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