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Haseeb A. Drabu NEW DELHI: For the second time in as many years, the Reserve Bank of India (RBI) has taken financial sector initiatives vis-a-vis Jammu and Kashmir (J&K) that have serious implications for that state. First, of course, was RBI's replacement of the J&K Bank as the lender of last resort for the state government. This eroded the financial underpinning of the unique position of political autonomy that the state enjoys. Last week, RBI governor D....
Posted 12 days ago.
SRINAGAR: The Kashmiri women, who till recently remained confined in their homes or working in offices and banks, have now achieved new heights in business, by establishing their own ventures in the valley. However, this all was made possible because of the help extended by the Empowering Skilled Young Women (ESW) scheme. A new trend has emerged among the Kashmiri women, who have now entered business, not only earning for themselves but also providing employment to others, including men. The Jammu and Kashmir State...
Posted 13 days ago.
SRINAGAR: An extremely acute electricity supply situation is hitting businesses, common people and those connected with the tourism industry in the Kashmir Valley. Authorities, however, assert that they are doing their very best to improve the scenario. Although the situation has improved a little in some parts of Srinagar after protests, the rest of the areas continue to remain affected. "I run a provision store in a metered area of the city where the government is committed to ensuring uninterrupted electricity...
Posted 40 days ago.
SRINAGAR: A major drive has been launched in the summer capital, Srinagar, against roadside vendors, main hurdle in free pedestrian and traffic movement. The drive was launched jointly by police and district administration this morning. Hundreds of vendors were putting stalls on footpaths on both sides of the roads since morning till late in the evening in the civil lines, including Lal Chowk, Residency road, Hari Singh High Street )HSHS) and on Amira Kadal bridge. Fisherwomen on busy Amira Kadal bridge were not...
Posted 42 days ago.
JAMMU: The Income Tax Department, Jammu and Kashmir has made a record gross collection of Rs. 800 crores in the last financial year, 2012-13. The Commissioner, Income Tax, Jammu and Kashmir, A K Thatai said he was overwhelmed "after collecting much more revenue than the target set for last fiscal." He said, “Breaking all the previous records the department has made highest gross collection of nearly 800 crores in 2012-2013. The net collection is 732.92 cr, after deducting the refunds.” “We are now feeling at...
Posted 53 days ago.
SRINAGAR: An international saffron festival was being organised in October this year in the Kashmir valley, where spring is at its best with blooming tulips and orchards of almond, cherry, apple, pears and pansies. The tourism department will organise several events in the valley to popularise and explore the immense tourism potential during this year, Tourism Minister Ghulam Ahmad Mir said. He has called upon the world tourists to visit Kashmir and enchant the...
Posted 56 days ago.
Ashiq Hussain SRINAGAR: The J&K government's new recruitment drive for unemployed youths has had the youth up in arms. Reason - the salary offered puts an engineer, designer or an architect on par with a roadside painter. Worse, for at least five years, a civil engineer will get half the money the government pays a peon or a driver. This flies even in the face of the labour...
Posted 86 days ago.
JAMMU: In view of Jammu and Kashmir attracting low levels of investment from the private sector in over two decades, industry body Assocham has suggested that the state be given a special package of Rs.10,000 crore for five years to boost its industrial growth. The state attracted a meagre 0.3 percent of the total investments made across India by the private sector, according to a study conducted by the Associated Chamber of Commerce and Industry of India. “Assocham has suggested that the central government provide...
Posted 114 days ago.
Ashiq Hussain SRINAGAR: It seems officials and administrators of Jammu and Kashmir government do not take seriously what chief minister Omar Abdullah preaches in public. Since taking the reins of the state in 2009, Abdullah has been repeatedly asking youth to look for self-employment but on ground those taking the initiative are forsaken by his government. At-least the fate of around 700 budding entrepreneurs of Kashmir valley prove this point beyond doubt. In 2009, these professionally...
Posted 137 days ago.
MUMBAI: The Tata group will adopt a two-pronged strategy to give opportunities for students and entrepreneurs in the Kashmir Valley which includes supporting setting up of venture capital units. Outgoing Chairman of the Tata group Ratan Tata, who recently interacted with students of Kashmir University in October last, said the group would like to follow the 'American Venture Capitalist model' and help the local entrepreneurs in setting up their own business. "We will do two things that we have promised. We will...
Posted 160 days ago.
