Srinagar's Ghanta Ghar or Clock Tower is illuminated with the Indian tricolour at Lal Chowk ahead of Indian independence day celebrations. Getty Images
Srinagar's Ghanta Ghar or Clock Tower is illuminated with the Indian tricolour at Lal Chowk ahead of Indian independence day celebrations. Getty Images
Srinagar's Ghanta Ghar or Clock Tower is illuminated with the Indian tricolour at Lal Chowk ahead of Indian independence day celebrations. Getty Images
Srinagar's Ghanta Ghar or Clock Tower is illuminated with the Indian tricolour at Lal Chowk ahead of Indian independence day celebrations. Getty Images


Kashmir is on the path to realising its full potential


Sandeep Kaushik
  • English
  • Arabic

August 18, 2021

Many will be surprised to learn that the union territory of Jammu and Kashmir is a front-runner in the third edition of the Sustainable Development Goals India Index as well as the Dashboard 2020-21 report released by Niti Aayog, the Indian government’s public policy think tank, in June. With the strengthening of grassroots democracy, the launch of several new development initiatives, and the extension of progressive and development-oriented central legislation, the union territory has emerged as a lead performer in the index. The region performed well on indicators pertaining to agriculture production, education, renewable energy, civic amenities, forestry and gender equality.

The guiding mantras of Insaniyat (Humanity), Jamhooriyat (Democracy) and Kashmiriyat (Identity of the people of Kashmir) continue to fuel the territory’s progress. In the past two years, government initiatives have included ensuring effective and transparent administration, developmental schemes focused on individual beneficiaries and accelerating the implementation of long-pending projects. The District Development Council (DDC) elections held last November and December marked a new chapter in the political domain. This was the first time people’s representatives were elected at all levels of local self-government in Jammu-Kashmir. All regional parties took part in the election. More than three million registered voters exercised their suffrage. More than 4,000 candidates, including at least 450 women, were in the fray for the 280 DDC seats spread across the 20 districts. A policy to reserve 33 per cent of the seats for women was implemented. Furthermore, Prime Minister Narendra Modi’s meeting with leaders of the region’s main political parties in New Delhi in June has raised hopes for the continuation of the ongoing political process in Jammu-Kashmir.

The territory, meanwhile, has managed the Covid-19 situation better than other parts of India. Cumulatively, 11.7 million tests have been carried out, thereby leading to a high number of tests per million people being registered every day. About 20,000 beds were set up in Covid Care Centres across the territory. As of August 1, there were 1,121 active Covid-19 cases recorded, with about 6.3 million people vaccinated and 316,000 others having recovered. All its districts are in the Covid-19 green zone, with the test positivity rate dropping to 0.2 per cent. Thirteen districts have achieved 100 per cent vaccination for people over the age of 45, with the overall coverage for the over-45 category across Jammu-Kashmir standing at 99.9 per cent. It is estimated that at least 60 per cent of the population will be vaccinated with the first dose by the end of August. To further strengthen the health infrastructure, two All India Institutes of Medical Sciences are being constructed, as are two cancer institutes, seven medical colleges and 15 nursing colleges.

An election worker carries a voting machine and his overnight bag as he leaves a central collection point to head for a polling station in Kashmir.
An election worker carries a voting machine and his overnight bag as he leaves a central collection point to head for a polling station in Kashmir.
A paramedic collects a nasal swab sample for Covid-19 test in Srinagar. Getty Images
A paramedic collects a nasal swab sample for Covid-19 test in Srinagar. Getty Images

Over the past year, Jammu-Kashmir has emerged as one of the best regions for developing transportation networks. In the coming year, the government is planning to invest more than $300 million in building and revamping its road and rail networks. One such project is the Udhampur-Srinagar-Baramulla rail link that includes the world’s tallest railway bridge, of 359 metres, over Chenab River. Upon completion, it will connect the Kashmir valley to the plains, making the movement of people and freight much easier. An all-weather tunnel, built at an elevation of 1,790 metres to connect Kashmir with the rest of the country, will be open to the public later this year. With a focus on clean energy, Jammu-Kashmir has begun focusing on hydropower projects using a "run-of-the-river" model, whereby the natural flow and elevation drop of a river are used to generate electricity. The past few months have seen a slew of announcements relating to a gas-pipeline project, the development of the capital Srinagar into a "smart city" and other initiatives.

There are also initiatives in place to help some of the less privileged groups within society.

The tribes of Gujjar and Bakkarwal, for instance, constitute about 15-20 per cent of Jammu-Kashmir's population. Their nomadic lifestyle had, so far, kept them out of various national census exercises. These communities play an important role in the conservation of the region's ecologically sensitive forests, but it was only in 2019 that they were given rights to freely access, independently manage and govern forest lands and other related resources; thereby providing livelihood security and a hope for future generations. Simultaneously, in May, the government launched a survey of all migratory and tribal populations to help nomadic communities access government schemes and development programmes. Another neglected section of society, comprising sanitisation workers from the Valmiki community, has been recognised and given access to education, employment, the right to vote, and other basic rights.

Villagers harvest vegetables from a field near Sudhmahadev earlier in the month. AP Photo
Villagers harvest vegetables from a field near Sudhmahadev earlier in the month. AP Photo
An engineer walks on an iron structure at the construction site of a railway bridge in Kouri in the Reasi district in Jammu-Kashmir. Reuters
An engineer walks on an iron structure at the construction site of a railway bridge in Kouri in the Reasi district in Jammu-Kashmir. Reuters

Over the past two years, efforts have been made to create digital infrastructure, expanding usage and simplifying government processes. In 2019, the government began a programme to digitise offices, create public grievance cells and scorecards to evaluate the work of local government institutions. In July, these institutions were integrated into the digital world. To support children’s online education, the government has integrated teachers and students into the knowledge network programme and created IT labs and computer-aided learning centres. Recently, Jammu-Kashmir launched two mobile applications that allow its residents to register and track grievances. A newly introduced digital platform also allows citizens to track public spending and funds allocated for all infrastructure and construction work. Despite its challenges, the territory is firmly on the path of digital disruption.

The Indian government has identified the creation of a local industrial base and a workforce with skills that can be gainfully employed as an important factor to achieve sustainable growth. Apart from announcing its "Industrial Policy 2021-30" to provide incentives to all new industrial units being set up in the region, the government has also introduced a new skill development programme with the purpose of providing training to 10,000 youth to enhance their skills for the job market. Hundreds of new vocational centres and labs have been established. A new single-point clearance system has been established to drastically reduce the number of approvals required. There is also a renewed focus on the agriculture and horticulture sectors, which employ the largest segment of the region's population. Meanwhile, a geographical indication (GI) tag has been given to export-driven agricultural products such as Kashmiri saffron, and efforts are under way to provide GI tags to such products as the Gucchi mushroom, one of the world’s more expensive mushrooms grown in the region.

As such, in 2021, Jammu-Kashmir’s GDP is expected to grow at 7.5 per cent.

Jammu-Kashmir is at an inflection point of development. The progress that has already been achieved indicates a path towards sustainable growth. And the Government of India will continue to strive until the region achieves its fullest potential in line with the ideals of the Indian Constitution.

Brief scores:

Newcastle United 1

Perez 23'

Wolverhampton Rovers 2

Jota 17', Doherty 90' 4

Red cards: Yedlin 57'

Man of the Match: Diogo Jota (Wolves)

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
Race 3

Produced: Salman Khan Films and Tips Films
Director: Remo D’Souza
Cast: Salman Khan, Anil Kapoor, Jacqueline Fernandez, Bobby Deol, Daisy Shah, Saqib Salem
Rating: 2.5 stars

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Brief scores:

Toss: South Africa, chose to field

Pakistan: 177 & 294

South Africa: 431 & 43-1

Man of the Match: Faf du Plessis (South Africa)

Series: South Africa lead three-match series 2-0

What is type-1 diabetes

Type 1 diabetes is a genetic and unavoidable condition, rather than the lifestyle-related type 2 diabetes.

It occurs mostly in people under 40 and a result of the pancreas failing to produce enough insulin to regulate blood sugars.

Too much or too little blood sugar can result in an attack where sufferers lose consciousness in serious cases.

Being overweight or obese increases the chances of developing the more common type 2 diabetes.

Top tips to avoid cyber fraud

Microsoft’s ‘hacker-in-chief’ David Weston, creator of the tech company’s Windows Red Team, advises simple steps to help people avoid falling victim to cyber fraud:

1. Always get the latest operating system on your smartphone or desktop, as it will have the latest innovations. An outdated OS can erode away all investments made in securing your device or system.

2. After installing the latest OS version, keep it patched; this means repairing system vulnerabilities which are discovered after the infrastructure components are released in the market. The vast majority of attacks are based on out of date components – there are missing patches.

3. Multi-factor authentication is required. Move away from passwords as fast as possible, particularly for anything financial. Cybercriminals are targeting money through compromising the users’ identity – his username and password. So, get on the next level of security using fingertips or facial recognition.

4. Move your personal as well as professional data to the cloud, which has advanced threat detection mechanisms and analytics to spot any attempt. Even if you are hit by some ransomware, the chances of restoring the stolen data are higher because everything is backed up.

5. Make the right hardware selection and always refresh it. We are in a time where a number of security improvement processes are reliant on new processors and chip sets that come with embedded security features. Buy a new personal computer with a trusted computing module that has fingerprint or biometric cameras as additional measures of protection.

Updated: August 18, 2021, 11:00 AM