Need to bring down unemployment rate: Chief Secretary

Srinagar, Jul 4: ‘Sustainability of every self-employment venture has to be ensured besides its viability after proper identification of the beneficiaries’ needs and skills during the campaign and all these things need to be dovetailed into a comprehensive actionable plan with a target of saturating self-employment in J&K. This was stated by Chief Secretary Dr Arun Kumar Mehta during the launch of “Swarozgar Utsav” campaign in J&K today while chairing the 10th meeting of Union Territory Level Bankers’ Committee at Banquet Hall here
Principal Secretary, Finance, Santosh D. Vaidya; Commissioner Secretary, RDD, Mandeep Kaur; Commissioner Secretary, Industries and Commerce, Vikramjit Singh; Administrative Secretaries of various Departments, MD & CEO, J&K Bank (Convenor J&K UTLBC) Baldev Prakash; Chief General Manager, NABARD, Bhallamudi Sridhar; General Manager RBI Neeraj Kumar and other senior functionaries of the Government, RBI, NABARD, Banks, departmental Heads, insurance companies and Lead District Managers were also present on the occasion.
Addressing the meeting, Dr A K Mehta said that UTLBC forum is essentially meant to ensure saturation in self-employment of people and in view of J&K economy, which has opened and moved ahead, we need to keep furthering its momentum while bringing down the unemployment rate to one of the lowest in the country. Intent, commitment and understanding have to be vital components of our plans”, he asserted.
He added that saturation of self-employment is at the heart of the Governments efforts and financial sector needs to put in place an actionable mechanism to saturate self-employment in J&K.
Chief Secretary emphasized on sensitizing people through financial literacy campaigns, media campaigns, erecting hoardings, bill boards etc. At conspicuous places in all panchayats, blocks and districts of J&K about benefits of various financial inclusion, social security and government sponsored schemes so that more and more people can take advantage of these schemes.
While hailing J&K Bank’s performance in dispensation of credit under various sectors of economy under Annual Credit Plan 2022-23, he advised other banks operating in J&K to come forward and provide financial assistance to those people who really need it. The way J&K Bank is showing confidence in lending should make all other banks to follow the suit.
Earlier, while welcoming all the dignitaries attending 10th UTLBC meeting, MD & CEO J&K Bank (Convenor J&K UTLBC) Baldev Prakash assured J&K Government, on behalf of whole banking fraternity, of extending all possible support for implementing the programmes and schemes aimed at entrepreneurial development, employment generation and poverty alleviation in Union Territory of Jammu & Kashmir.”
During the meeting, Chief Secretary also launched the ‘Employment Generation Campaign’; “Swarozgar Utsav” for providing gainful self-employment to youth of Jammu & Kashmir.
While urging the Banks to coordinate with designated Panchayat Prabhari Officers during the ‘Swarozgar Utsav’, Chief Secretary advised the banks to devise area-specific customized employment plans as per the requirement of the people. He also directed banks to start a massive digital-payments promotion campaign; ‘Digital JK – Digital Payments’ for the next three months so that the vision of “less- cash society” of Government is realised.
The concept of Swarozgar Utsav, MD & CEO J&K Bank said, was mooted to provide employment opportunities to every individual across the length and breadth of J&K. He said that the campaign shall be launched in every panchayat and ward of J&K from today and shall culminate on 30th September 2023.
While expressing optimism in delivering the best during the campaign MD & CEO J&K Bank impressed upon other banks to extend full support in making it result oriented.
Jan Suraksha Schemes are there to provide social security especially to the vulnerable sections of the society and banks need to religiously come forward and help in saturating the scheme.
Earlier General Manager J&K Bank, Syed Rais Maqbool while making presentation on the financial achievements of various banks in different sectors during the Financial year 2022-23 informed that banks in J&K have achieved 118% of the Target under Annual Credit Plan by disbursing credit of Rs.60,048 Crore to 17,16,527 beneficiaries.
It was informed that against the Annual Target to cover 30,410 beneficiaries, banks have sanctioned loans to the tune of Rs.2,016 Crore to 48,120 beneficiaries under major employment generation schemes during Financial year 2022-23.