Nations and states always progress and prosperous through broad parameters of development. In 21st century, nation-states cannot consolidate their territorial integrity only on the basis of their defence and nuclear assets. The economic strength of every nation is pivotal for their existence on the world map. We can very well gauge the condition of developing economies, whose current account deficit as well as declining GDP is shaking their economic foundations. Same is the case with individual households and common masses. The economic growth of every household & individual is directly linked with their immediate priorities. In my ten years experience as a banker, I have closely witnessed how people economically destroy themselves through their misplaced priorities. We are devising shortcut solutions to achieve economic progress & prosperity.
Firstly, the central government is having different schemes like old age pension (IGNOAPS),PM-KISAN, Student Scholarships etc for different strata of masses. Everyone as per the criteria of these schemes have the right to become part of them. There are lacs of beneficiaries of these schemes, particularly PM-KISAN across the length & breadth of our UT. But unfortunately, the common masses have made hell of these schemes. The majority of the beneficiaries have cast their eyes only on the credits received through these schemes. Senior citizens can never be blamed for roaming around social welfare offices, Banks, Khidmat Centers etc. But the young population is wasting their precious time day in day out roaming all day for some bucks. They are wasting months together to get benefits of old age pension, which is only meant for senior citizens. The recent verification drive launched by the social welfare department is a welcome step in this regard. Now only the genuine beneficiaries are expected to receive the benefits of old age pension scheme. The senior citizens have been left at mercy of Almighty & old age pension scheme. It is in fact a collective shame for us. They visit different banks day in day out to check the balances of their accounts. People waste so much of their productive time due to their misplaced priorities.
Secondly, we should always prioritize our economic aspirations on the bases of our budget. A middle-class family has to first prioritize housing, shelter & education for its family. Any economic aspiration beyond it will be suicidal for them. Look at the society around you. We will come across innumerable examples in our vicinity, where such families own luxury cars without comfortable housing & shelter. This is what is called the economics of misplaced priorities. You will never compromise on luxury car, LCD, Smart phone etc at the cost of your housing & shelter. That is where the vicious circle of debt starts. People have maintained that lifestyle, which they are not capable of maintaining. But in utter lust of showoff, they get started to burden themselves under debt. Their monthly earnings are far below their monthly spending just like current account deficit of states. It is the case of only middle-class masses, but a vast majority of government employees are stressed due to vicious circle of debt. They have taken different loans with utter disregard to their monthly expenditure. As the result, they have nothing to spend after various deductions to their monthly salary.
Last but not least, we have to become pragmatic & realistic while devising our economic priorities. We have to spend as per our resources & earning capacity. At the same time, we have to think about our future prosperity & growth. We cannot resort to haphazard spending & misplaced priorities. Better late than never.

Email:-----------------------mohsinattiq2015@gmail.com