When Omar Abdullah took over as the chief minster of the state in 2009, he laid stress on the completion of all development works on time. He held meeting after meetings to assert that the development would receive the thrust despite all odds. The agenda of development was later picked up by the Muftis-led government and similar interest was shown first by Mufti Mohammad Sayeed and later by Mehbooba Mufti. All the state chief ministers in the last decade or so, and even the governor, have wasted no time in pushing the accelerator of development. In spite of that the state’s growth has been slow and in doldrums. The government seems to lack direction when it comes to execution and completion of projects as many instances are there where funds either lapsed or funds from one region were said to be utilized in other areas. The state government does not even bother to take cues from other states when it comes to transparency in fiscal matters and resources allocation. It is a grim situation aggravated by the non-completion of projects that often get delayed by years. For wrong policies and poor execution the incumbent government is grappling with the turbulence that has virtually brought state’s economy to its knees. PSUs and industries are defunct, vital sectors of the economy have suffered the biggest jolt and government seems to be unable to salvage the situation. There is evidence suggesting the state’s economy running up against critical sectors where growth forecasts are predicted to show further decline. So holding of bureaucratic meets to project that all is well speaks volumes about how far the government is from reality. If one takes the segment of the population that lives from hand to mouth and is totally dependent on daily earnings, their distress needs to be addressed in right earnest rather than projecting only that government is concerned. Most of the bureaucrats and politicians would like the people to believe that everything is on track; however, the events that have been unfolding during the last many years now force people to make a realistic assessment of the economy. It is one thing to find ways to continue with the development and project execution, even if on paper; that is much easy part, And other to neutralise the effect of the current economic slowdown that is turning to be worst ever for the state.