FB   
 
Powered bysps
        Society for Policy Studies
 
 

 
Timely Initiative
Posted:Jan 8, 2016
 
Print
Share
  
increase Font size decrease Font size
 
The launching of a Rs.100 billion fund for economic revival by the government should be welcomed as it seeks to give a boost to the productive sector in the country hit hard by the major earthquakes and their aftershocks of April and May, the unrest in various parts of the country, including in central Tarai, as well as the trade blockade imposed on Nepal. The big blow given by the earthquakes had badly affected a number of districts, including the three districts of the Kathmandu Valley, causing deaths of more than 9,000 people, and injuries to many more, destruction of over half a million houses, and damage to about half that number of houses, apart from the damage suffered by other industrial and development structures and cultural monuments. The financial loss caused by the earthquakes has been put at some 700 billion rupees. As if that was not enough, the trade blockade has caused a much higher amount of financial loss to the country. All this has pushed back the development of the country a number of years. How fast the country can recover will depend on how wisely and effectively the reconstruction and recovery plans can be worked out and put into practice.
 
 
The- government cannot do everything, but the tasks before it are many and difficult. Therefore, it has to set priorities of things to do. The idea of providing loans to the productive sector at five per cent interest rate can be expected to give the entrepreneurs some relief and incentives to do more on their own, thereby, contributing to swifter economic recovery. This will help inspire the investors with new confidence. The fund has contributions from the government, banks and financial institutions (BFIs) and development partners. BFIs can obtain credit from the Rastra Bank at 1.5 per cent interest rate, and they will have to lend the amount to good borrowers at not more than a five per cent interest rate. The importance of the initiative is obvious at a time when the country’s projected economic growth rate has already gone down to 3.04 per cent in the fiscal year 2014-15, with a grimmer forecast of the growth rate posting a negative figure in the current year for the first time since 1983.
 
The productive sector for the purposes of the soft loans include small and medium industries, agricultural farms, mountaineering, trekking, rafting and travel agencies, hotels, restaurants, resorts and other recreational facilities, airlines and other tourism-related ventures. Hydro-power plants under construction, and those whose production has been halted for various reasons, and any other project related to the production, transmission and distribution of hydro-electricity are eligible for the loans, whereas manufacturers of alcohol and tobacco products cannot get this refinancing facility. Though the last two also generate employment and contribute to capital formation, they have been excluded, because they produce products socially considered undesirable. The government and the central bank should ensure that in making loans BFIs operate according to the criteria set and small enterprises are not largely left out of the process. While big businesses find it less difficult to absorb the shocks and recover, small operators find the challenge much more difficult.
 
Promoting teachers
Promotion of teachers of community schools as per the Civil Service Act would help boost the morale of teachers. There are anomalies prevailing while promoting them at present. According to the Civil Service Act, section officers could be promoted after having served for five years and Joint-secretaries are eligible for further promotion after seven years service in the government. There are 107,853 permanents posts for teachers in the community schools which number more than 3,500 in the country. Expert advice would be sought by the government from education experts for promoting the teachers.
 
The new regulation comes into force regarding promoting teachers to be run MoE’s School Sector Development Programme from July of 2016 to 2022. So far promotion is given to teachers who have been appointed under the Civil Service Act. With the bid to encourage quality teaching and learning preparations are going on to supply adequate teachers, particularly in subjects like science, mathematics and English. The teachers who have done well should be felicitated and be given due recognition for their contribution.
 
The Himalayan Times, January 9, 2016
 
 
 
 
Print
Share
  
increase Font size decrease Font size
 

Disclaimer: South Asia Monitor does not accept responsibility for the views or ideology expressed in any article, signed or unsigned, which appears on its site. What it does accept is responsibility for giving it a chance to appear and enter the public discourse.
Comments (Total Comments 0) Post Comments Post Comment
Review
 
 
 
 
spotlight image Relations between India and Morocco go back a millennium with the first recorded links dating to the 14th century, when the famous traveller and writer from Tangier, Ibn Batuta, travelled to India.
 
read-more
US President Donald Trump has said he sees a “critical” role for India in his country's South Asia strategy for fighting terrorism and building up a safe Afghanistan.
 
read-more
On 14 August 1947 Pakistan, consisting of East and West Pakistan, celebrated its independence. The 14th was chosen for the ceremony because Lord Mountbatten who came to Karachi as the Chief Guest had to later leave for Delhi where ot the midnight stroke India was to declare its independence.
 
read-more
The Doklam stand-off and a variety recent opinion pieces in magazines and newspapers draws attention to the poor state of defence policy preparedness and the lack of meaningful higher defence control in India. 
 
read-more
The two ideologically divergent ruling partners - the Peoples Democratic Party (PDP) and the Bharatiya Janata Party (BJP) - in Jammu and Kashmir are headed for a showdown as the debate over the abrogation of Article 35A of the Constitution of India heats up.
 
read-more
At the root of the present Doklam crisis is China’s intrusion into Bhutanese territory for its road building projects. These connectivity projects are integral to President Xi Jinping’s dream project, the Belt and Road Initiative (BRI). India and Bhutan were the only two countries that did not participate in the first forum
 
read-more
There are six encouraging and bold pillars in the new US strategy on Afghanistan as outlined by President Donald Trump.
 
read-more
Is the United States threatened by Nazism? The short answer is no, notwithstanding the frightening events in Charlottesville, Virginia, recently.
 
read-more
It is a privilege to be invited to this most prestigious of law schools in the country, more so for someone not formally lettered in the discipline of law. I thank the Director and the faculty for this honour.
 
read-more
Column-image

As talk of war and violence -- all that Mahatma Gandhi stood against -- gains prominence across the world, a Gandhian scholar has urged that the teachings of the apostle of non-violence be taken to the classroom.

 
Column-image

Interview with Hudson Institute’s Aparna Pande, whose book From Chanakya to Modi: Evolution of India’s Foreign Policy, was released on June 17.

 
Column-image

This is the continuing amazing spiritual journey of a Muslim man from Kerala who plunged into Vedic religion after a chance encounter with a Hindu mystic under a jackfruit tree in the backyard of his house when he was just nine. It is a story w...

 
Column-image

History is told by the victors but in our modern age, even contemporary events get - or are given - a slant, where some contributors soon get eclipsed from the narrative or their images tarnished.

 
Column-image

Humans have long had a fear of malignant supernatural beings but there may be times when even the latter cannot compare with the sheer evil and destructiveness mortals may be capable of. But then seeking to enable the end of the world due to it...

 
Subscribe to our newsletter
Archive