The public sector has been playing a vital role in the economic development of the
Indian nation. As a matter of fact, the public sector has come to occupy such an
important place in the economy and on its effective performance depends largely the
accomplishment of the country's economic and social goals.
Public sector has successfully
created millions of jobs to tackle the unemployment problem in the country. Public
sector accounts for about two-
Ironically,
the public sector of Jammu & Kashmir presents a bleak outlook.
Financial mismanagement,
ill planning, non-
All this has resulted
into a loss of Rs 158.86 crore to 14 Public Sector Undertakings (PSUs) in Jammu and
Kashmir during the financial year of 2009-
It is worth pointing that as on March 31, 2010, there were 23 PSUs,
which include 20 government companies (17 working, three non-
Out of the total profit of Rs 514.89
crore by four PSUs, the major contributor was the Jammu and Kashmir Bank Limited.
It earned Rs 512.38 crores while J&K Cement Limited registered Rs 1.53 crore profits
during 2009-
In order to encourage the development of small scale and medium-
According to the CAG report, the losses of PSUs are mainly ascribed to deficiencies
in financial management, planning, implementation of projects, running their operations
and monitoring.The CAG report clearly indicates lack of professionalism in our Public
Sector Units. A review of the latest audit reports of the CAGs also says the State
PSUs incurred losses to the tune of Rs 45.38 crore which were controllable with better
management. As per CAG’s audit report for the year 2007-
The lethargic attitude of the government towards the losses being incurred
by these PSUs can be gauged from the fact that the three non-
It is shameful to note that the PSUs of the Jammu & Kashmir State
have properties worth billions of rupees at prime locations but still they are penniless
and are not able to tap their resources in right direction. These PSUs have also
failed to provide any answers to our burning unemployment problem.
One of the leading
Corporations -
Kumail Ahmad, a student said, “The
public sector in our state is marred by widespread inefficiency and continues to
incur losses. Majority of our Psus are running in losses on account of poor management.
On the other hand in recent years, the public sector of other states has made increasing
contributions to the public sector in the form of dividend, corporate taxes, excise
and customs duty, etc. The total contribution from the public enterprises to the
exchequer has been quiet impressive in other states. Public sector has contributed
a great deal in improving the balance of payments position of the county. The public
enterprises have saved valuable foreign exchange trough import substitution. The
authorities in our state need to wake up and refurbish the public sector of the state
so as to improve economy of our state.”
In our part of the world, even the al important
public health care and public education system is virtually in shambles. The Public
Health Sector of the Jammu & Kashmir State, especially that of the Kashmir Valley
is in shambles. Most of the government owned hospitals are failing to meet the needs
of patients and rural health care is especially in dire straits. The abject scenario
pertaining to public health sector calls for the implementation of drastic measures.
The
poor performance of government schools despite being staffed with sufficient manpower
and quality aptly describes the status of our Education System. Just as the seven
deadly sins correspond to weaknesses in human nature, the sins of public education
are inherent in the nature of the existing system -
Gulzar Bashir,a commoner said, “Leave aside public sector
units of the state, the two main public sector areas i.e education and health sector
in our part of the world are in utter disarray and demand urgent attention from authorities.”
The
grave realities call upon the government to fix the rot in our public sector so as
to refurbish the public sector in our part of the world towards an era of betterment
wherein it can lead the economic prosperity of Jammu& Kashmir State and especially
provide a suitable answer to the burning unemployment problem in the state.
Copyright © 2008 -
The ordeal of cracking walnuts
Mushtaq Ahmed Dar of Kashmir Has Made It Look as Easy
as Anything. A Three Piece Walnut Processing Unit Displayed on the Lawns of Rashtrapati
Bhawan at New Delhi Attracted Everyone's Attention. A three day exhibition held recently
on the lawns of Rashtrapati Bhawan at New Delhi focused on the grassroots levels
innovations from the rural areas of the country.
Imbibing Value of Money
The value associated with money is great. Teaching kids
about money although may seem a controversial thing. You would not want your money
worries to be passed down to our kids. You approach the subject of money in a pragmatic
way which will help to enable your kids in their future. Kids know how to get their
things by crying or whining.
China connected Lhasa in Tibet to Golmud in its Western Qinghai province in five
years. By 2013, it will extend the same line to Zhangmu on its border with Nepal.
But in India, the Kashmir rail link sanctioned by the Atal Bihari Vajpayee-
Besides difficult
terrain, progress on the crucial rail link has been stymied by fissures within the
Railway Board.