Though spending on Infrastructure as announced by both the Central Government in it’s this year’s budget and also by the Jammu & Kashmir Government in it’s new industrial investment policy is by all standards of understandabilities a good omen for the revival of the economy but full scale revival of the private sector stands at the centre of a broader objective of full scale of economic revival be it Jammu & Kashmir or any other part of the country. As third covid wave is on it’s way out, the private business operations have started opening up in Jammu & Kashmir like many states and union territories of the country and fortunately this year’s tourist season is about to begin within a fortnight or so. Never forget that besides tourism the construction sector during peak summer months also generates livelihood opportunities for both the locals and as well as the outsiders. While the government has unveiled it’s own road map for spending on infrastructure as part of it’s new industrial investment policy, the private business operations if run smoothly would reduce the increasing joblessness among youth and open up the closed income opportunities for both the locals and as well as non locals. During peak summer months in Kashmir the hoteliers and house boat owners carry out the main business operations in Kashmir for which a conducive atmosphere should be created by both the people and the government. Thought Government spending on infrastructure will undoubtedly generate more livelihood opportunities for the people during peak summer months but it is also an irrefutable fact that private construction sector in Kashmir is now generating more livelihood opportunities than the construction works carried out by the government on mega developmental projects in both Kashmir valley and as well as Jammu division.
Unless and until the rising inflation is not controlled, neither the activation of private business operations nor the government spending on infrastructure will restore the scenario of livelihood opportunities and income generation to the economic scenario of pre-covid days both in Jammu & Kashmir and also in other parts of the country. Never forget that increase in private spending boosts the private business operations and consequently the income of the people engaged in private business operations.
As unprecedented rise in the arrival of construction workers from other parts of the country raises the consumption of even essential commodities during peak summer months ,the income of grocery stores also consequently rises during peak summer months. Amid growing reactivation of private business operations the inflation is presently a bigger challenge for all the market forces not only in Jammu & Kashmir but also in most of the states and union territories of the country. Unless and until the rising inflation is not controlled, neither the activation of private business operations nor the government spending on infrastructure will restore the scenario of livelihood opportunities and income generation to the economic scenario of pre-covid days both in Jammu & Kashmir and also in other parts of the country. Never forget that increase in private spending boosts the private business operations and consequently the income of the people engaged in private business operations .
