Deluge, destruction in Jammu and Kashmir

September 14, 2014

Srinagar, Sep 14: These are unprecedented times. Generations of people of Jammu and Kashmir had not seen the kind of devastation that the floods of September second week have wrought on the Himalayan state.

jkThe deluge has left a trail of destruction in almost every district of this already vexed state. The flood havoc has left the Jammu region and the Kashmir Valley equally ruined. A week of thunderous rainfall has breached canals and lakes and flooded the rivers, pushing the state, not known for its administrative efficiency, backward by a couple of decades. There is hardly any family which has not been affected by this completely unpredicted misery.

Days of rainfall and flooding have impacted every walk of life. After the thunder storm that started on September 6, only now Srinagar has started getting electricity supply, that too only in parts of the state capital. There is hardly any telephone connectivity. With mobile networks non-functional and power intermittent, the problem of contacting the near and dear ones is a tall order. There are tales of parents not knowing the whereabouts of the family members, mothers having lost children and brothers unaware what happened to the uncontactable cousins.

Take anything in J&K, they are under water. Shops and establishments, hospitals, banks, government and private offices, telephone exchanges, police stations, schools and colleges, power plants, petrol pumps and newspaper offices are under water and will remain closed for days to come. Of the seven hospitals in the city, only one – Sher-e-Kashmir - is functional. Godowns are under water. Petrol pumps are empty.

The HP and IOC oil storage tanks located in Pulwama district along the closed Srinagar-Jammu highway are submerged. Most of the buildings and houses are under at least 10 ft of water. There is a level-playing field here though. Chief Minister Omar Abdullah’s office, secretariat, Assembly building, areas like the posh Jawahar Nagar - where leading politicians and top bureaucrats live - have been under water. So much so that the chiefminister could not contact his own ministers or officials for days on end.

There are no stocks in ration shops. Left over stocks are looted by thieves who came in boats. There is an acute shortage of food across the affected districts. Medicine is urgently needed as receding flood waters may bring in diseases. The biggest problem is acute shortage of medicine and drinking water. Some temporary hospitals are set up as voluntary doctors are working but are devoid of medical facilities. Without water, there is the danger of people getting dehydrated. In the only paediatric hospital of Srinagar, 14 newborns died. There are reports that some bodies are lying on trees.

Relief camps have been set up but the condition there is sub-human. While seven of the 10 north Kashmir districts were affected, rain has started pounding south Kashmir since Friday. People’s anger is against both the state and the Central governments.

Affected residents say while the state government completely failed to come to the rescue of the flood-hit, the Centre could have done more. Instead of pressing just 100 boats in to service, what was needed was 1000 boats as lakhs were waiting to be rescued over six days without proper food or water. In Sringar alone, of the 6 lakh trapped in waters, only 1 lakh have been rescued.

Said Riaz Ahmed, a businessman: “This is the time when the rest of the country can really show that Kashmir is part of India, that they are ready to embrace us in this hour of tragedy. Help is coming, but it is insufficient, not streamlined.”

Cries of woe

Many have lost their lives and also savings and property. Says Mohd Mazan Bhat, a retired government official: “I constructed a house in Bemina out of my life savings. The house has been washed away in the floods. I lost everything in a matter of a few hours.” Bhat, now in a relief camp, weeps: “I don’t know how to restart my life.”

Four days after he was rescued from his house which is under 15 ft of water in Karan Nagar, advocate Jawed is not able to live down the horror he went through. “I was saved by an army boat after three days and two nights. I am still terrified, I am not able to sleep. I get hallucinations of the violent waves lashing my house engulfing it and the neighbourhood.”

Senior journalist Arshad Hussian of Kashmir Times and his mother are not traceable. He has three small children and all are rescued from his house at Shivpura on the banks of the Jhelum river. His wife, a doctor, was at her hospital when the tragedy struck and is safe. I have been trying to locate them at relief camps but am not successful.

There are hundreds of such stories here. As for my relatives, there is no information about dozens of them. Same with scores of journalist colleagues and friends.

But many have not left their homes despite army boats reaching them. They are scared that the moment they leave, whatever that is left at home would be taken away by the gangs of thieves.

Lack of connectivity is one of the biggest logistical problems. Authorities claim that 50 per cent of mobile connectivity is restored but in reality, it is not even 10 per cent. BSNL and Airtel connections are not working. Aircel network is available but only in some areas.

There is apprehension as to what will happen to the cash deposits in scores of banks across the state as well as the cash in the main state treasury situated on Residency Road in Lal Chowk which are under water. The chiefminister has assured the people that cash in banks as well as treasury is safe.

In south Kashmir, Anant Nag, Pulwama and Pehlgam have been devastated by floods. Almost 90 per cent of people there are affected. In north Kashmir, parts of Badgam, Baramulla and Bandipore districts are badly hit. In north, only Ganderbal, Kupwara and Shopean districts remain largely unaffected. On Friday, 40 bodies were retrieved from Pancheri village in Udhampur district in Jammu division, devastated by landslide. There are reports that several bodies are lying in different police stations in Srinagar. No one knows about the identity of these bodies.

Rehabilitation in J&K will take years. Public infrastructure is badly affected. In hospitals, all equipment, be it CT scan, x-ray, MRI machines etc are badly damaged under muddy water. Even if water recedes, it won’t be of much help.

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News Network
January 24,2020

Jan 24: India’s economy appears to be shaking off a slump, as activity in the services and manufacturing sectors expanded for a second straight month in December.

The needle on a gauge measuring so-called animal spirits signaled the economy may be taking a turn for the better, as five of the eight high-frequency indicators tracked by Bloomberg News came in stronger last month. The dial was last at the current position in August.

“Animal spirits” is a term coined by British economist John Maynard Keynes to refer to investors’ confidence in taking action, and the gauge uses the three-month weighted average to smooth out volatility in the single-month numbers.

The nascent recovery would need a helping hand, with expectations building that Finance Minister Nirmala Sitharaman will provide some stimulus when she presents the budget Feb. 1. Official forecasts show the economy is set to expand at 5% in the year ending March 2020 -- the weakest pace in more than a decade.

Here are the details of the dashboard:

Business Activity

The dominant services index rose to the highest level in five months in December as improving new work orders helped boost activity. The seasonally adjusted Markit India Services PMI index climbed to 53.3 from 52.7 in November, helping post a strong end to the calendar year.

India’s manufacturing PMI also rose -- to 52.7 from 51.2 a month ago -- boosted by the fastest increase in new orders since July. A reading above 50 means expansion while anything below that signals contraction.

The uptick in business confidence was accompanied by a rise in inflationary pressures, the survey showed. That trend may keep monetary policy makers from resuming interest-rate cuts anytime soon, leaving most of the heavy-lifting to boost growth with the government.

“The relative stability in macro indicators over the past two months suggests that the worst is behind, but the recovery is likely to be prolonged,” said Teresa John, an economist at Nirmal Bang Equities Pvt. in Mumbai. “Still, sluggish growth and rising inflation indicate that India may well remain in stagflation for most of 2020.”

Exports

Exports remained a laggard, falling 1.8% in December from a year ago. The drag was mainly because of a fall in export of engineering goods, which constitute a third of India’s non-oil exports.

Capital goods imports continued to contract and was lower by 16.5% year-on-year in December after a 22% drop in November. This was the seventh consecutive month of continuous decline, underscoring the weakness in the capex cycle, according to IDFC First Bank.

Consumer Activity

Weakness in demand for passenger vehicles persisted, with local sales falling 1.2% in December from a year ago, according to the Society of Indian Automobile Manufacturers. That capped the worst yearly passenger vehicle sales on record. A Nielsen study on demand for fast-moving consumer goods showed volume growth dropped to 3.5% in the last quarter of 2019 from 3.9% in the same period of 2018.

Funding conditions held out hope, showing considerable improvement in December, according to the Citi India Financial Conditions Index. Credit growth remained tardy though, with demand for loans rising at a slower 7.1% pace from a year ago compared with a nearly 8% growth in November.

Industrial Activity

Industrial output rose for the first time in four months in November. The pick up was broad-based, led by mining, manufacturing and electricity. Mining and manufacturing, in particular, posted a second month of sequential growth. Production of consumer goods also rose after a few months of contraction.

The index of eight core infrastructure industries, which feeds into the index of industrial production, however, declined 1.5% in November from a year ago -- the fourth straight month of contraction. That was on account of shrinking production of electricity, steel, coal, natural gas and crude oil. Both the core sector and industrial output numbers are reported with a one-month lag.

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News Network
May 24,2020

New Delhi, May 24: India witnessed the biggest ever spike of 6,767 positive cases in the last 24 hours, taking the total number of COVID-19 cases to 1,31,868, according to the Union Ministry of Health and Family Welfare.

As many as 147 deaths have been reported in the last 24 hours, taking the death toll to 3,867.
Out of the total number of cases, 73,560 are active and 54,440 have been cured/discharged and one migrated.

Maharashtra continues to remain the worst-affected state with 47,190 COVID-19 cases. It is followed by Tamil Nadu (15,512), Gujarat (13,664), and Delhi (12,910).

The nationwide lockdown imposed as a precautionary measure to contain the spread of COVID-19 has been extended till May 31.

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Agencies
March 9,2020

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.

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