Srinagar, Oct 25 (UNI) Jammu and Kashmir Governor Lt Gen (Retd) S K Sinha today stressed the need for trimming and controlling bureaucratic juggernaut and curtailing non-plan expenditure for achieving the objective of good governance.
Addressing the 90th annual conference of the Indian Economic Association at the Kashmir University here this afternoon, he elaborated on economics and the good governance, saying there was the need for more planned expenditure than non-planned expenditure.
Quoting an adage that a Government, which governs least, is the best, Gen Sinha said a Government that exercises very tight control on economics, fails to produce the desired results.
Even a communist country like China realised the benefit of relaxing controls in 1970s, the Governor said. Deng Tsiao Ping, the architect of the changed economic policy of China, had rightly said that 'poverty is no virtue; to be rich is good'.
''We discarded the license permit raj in 1990s which gave a big boost to our economy,'' the Governor said while emphasising his point on ruthless curtailment of non-planned expenditure.
Through economic integration and development not only the very complicated Kashmir problem could be resolved, but a role model provided for development of South Asia on the lines of EU, he added.
Gen Sinha emphasised that Jammu and Kashmir has tremendous diversity of terrain, climate, resources and population. Being the most diverse state of the country, its economic problems were compounded by the ongoing militancy, he added.
''My state government has launched a jehad of development which I hope will overcome the jehad of terrorism,'' the Governor said.
The inaugural session was also addressed by Chairman, Economic Advisory Council to Prime Minister, Dr C Rangarajan and Kashmir University Vice Chancellor Prof Abdul Wahid Shah.
Jawaharlal Nehru University Vice Chancellor and Indian Economic Association President Prof B B Bhattacharya spoke on education, skill formation and India's economic development.