With China facing a slowdown, it will not be easy for the bank to address issues of other countries with objectivity, writes Nayan ChandaWe have to make to sure America writes the rules of the global economy,” President Barack Obama said last month. “Because if we don’t write the rules for trade around the world, guess what, China will.” But what happens if American rule drafters join the Chinese in drawing up regulations for a Beijing-backed institution?It is not a hypothetical question. When the Asian Infrastructure Investment Bank (AIIB) holds its first general meeting in Beijing this month, it will adopt articles of incorporation based on western best practices, prepared with the help of Western experts and former US officials. The bank has already appointed as its general counsel Natalie Lichtenstein, a Harvard-educated lawyer who worked at the World Bank (WB) for over 30 years and helped draft the AIIB charter; AIIB may tap expertise from other alumni from international financial institutions. Round one to China courtesy of an American own goal.Beijing’s deftness in managing the launch of AIIB and in getting 57 countries (double the anticipated number) to join as founding members is a testimony as much to the declining influence of the US as to China’s growing clout. Having failed to get Congress to agree on proposed reforms to the International Monetary Fund (IMF) , which would have allowed new powers like China greater voting share, the Obama administration was left with a threadbare justification for blocking the AIIB initiative: China equals bad governance. The fact that Asia needs a massive investment in infrastructure that the World Bank and Asian Development Bank (ADB) have failed to deliver, plus the sense among developing countries that they are being unfairly shut out of the rich nations’ club, means that pious talk about values and good governance sound like self-serving claptrap. AIIB has also decided to dispense with the white elephant — resident board of directors costing the World Bank $70 million a year. The AIIB directors will instead hold teleconferencing to decide on and supervise the projects that the staff will present to them.In contrast, China is not only offering to open up the investment spigot (it holds $4 trillion in foreign reserves) for its poorer neighbours but has also won over Western countries who might have been wary of becoming supporting cast members in service of China’s foreign policy goals. Beijing appointed a sophisticated banker, Jin Liqun, who was vice president of ADB, as the interim head of the AIIB. Even though China will have the largest share, he assured the Europeans, it would not use its veto power — like the US does at the IMF, with its mere 20 per cent voting share. To allay fear of corruption, the Chinese also sought help from experienced western bankers and legal experts to draw up the bank’s regulations. Like, David Dollar, a veteran Mandarin-speaking former WB official, who also served as the US Treasury Department’s representative in Beijing, was engaged as an unpaid consultant in drafting the rules.Despite China’s savvy handling of the AIIB launch so far, it has yet to dispel the impression that once underway, the bank will become a vehicle to support Chinese foreign and domestic interests. As its own officials acknowledge, there is an economic rational at play here: facing an economic slowdown at home, China wants to build infrastructure “as a countercyclical measure.” Already Chinese construction firms are canvassing for contracts on the promise of receiving AIIB loans. Only time will tell whether its international directors succeed in keeping AIIB corruption-free and transparent — and whether it succeeds in furthering Beijing’s foreign policy agenda — for now, the bank is ready for launch with a bang.(This story was published in BW | Businessworld Issue Dated 13-07-2015)
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It is extremely doubtful if the much hyped DDA visions of Delhi as a city of skyscrapers like New York and Shanghai will be ever achieved, says Ranjit SabikhiThe mixed use development of unlimited height proposed along Transit Oriented Development (TOD) metro corridors currently being much hyped by DDA is a beguiling concept. It holds out visions of a city of skyscrapers like New York and Shanghai. It is, however, doubtful whether much of what is claimed is ever likely to be achieved? Imminent change in the kilometer wide zones along metro corridors that is expected to transform the nature of the city is unlikely to happen, considering the manner in which the DDA and the Ministry of Urban Development, are currently implementing it. As per the original DDA notification the TOD Corridors were to be part of an integrated multi-modal transport system, effectively integrating a mix of rail and road based systems which would include metro-rail, bus rapid transport, feeder services, taxis, auto-rickshaws, and private modes. In addition all roads would be made pedestrian, and bicycle friendly, and safe for children, elderly and the differently abled. Based on a detailed master plan for the corridor with an updated services infrastructure layout, this system was to be implemented along the length of all the TOD metro corridors. It was suggested that the development would follow a completely different concept with emphasis on providing safe pedestrian movement instead of the present traffic dominated road system, effectively connecting and servicing a wide area along each TOD corridor. The Zonal Development plan for East Delhi on which the DDA’s first TOD project the East Delhi hub is located, shows a kilometer wide influence zone of high density development overlaid along the length of the metro-rail on Vikas Marg. Starting from the East bank of the Yamuna river, Vikas Marg has a 45 metre right of way with service roads on either side. It passes through some of the most highly congested areas of East Delhi, flanked by small residential plots on either side, served by narrow access roads, built haphazardly 5 or 6 storeys in height, with a bewildering mixture of uses including commercial, residential, and communal, on different floors. All the way up to Nirman Vihar, the area is a centre of intense activity, with the road congested throughout the day, carrying a mixture of motor vehicles cars, buses, electric rickshaws, three wheelers, cyclists and pedestrians. Despite having defined traffic lanes, conditions are chaotic, and the 45 metre wide corridor, barely manages to accommodate the wide variety of slow moving transportation, that serves the needs of the existing settlements on either side. Riding overhead above this chaos in the centre of the road, there is the metro-rail with a series of stations along its length. To visualize this as a central transportation corridor with 500 metre wide, high density mixed use development, consisting of multistory towers on either side is wishful thinking. It is going to be extremely difficult to acquire a number of plots to create a consolidated strip of even 50 metre depth on either side, leave alone a depth of 500 metres for redevelopment as is being proposed. The density of existing construction is already well above the 400 FAR being offered as the incentive for owners to redevelop their land. The fact that the entire area is overcrowded with narrow ill ventilated streets, and buildings almost touching each other overhead, along with a tangle of electric wires, and clothes hung out to dry, does not detract from the fundamental fact, that this massive concentration offers cheap affordable housing to large numbers of low income workers, close to the heart of the city, with the metro corridor providing efficient connection to work centers all over. This is an area that is not likely to change any time soon. After reaching Nirman Vihar and the Lakshmi Nagar District Centre, Vikas Marg passes through a number of well developed middle and high income residential colonies. Here the densities are reasonable with good living conditions and a pleasant ambience, which will be completely destroyed if the proposed high density Transit Oriented Development does come about. Here also the possibilities of being able to put together consolidated sites of one hectare area, for intensive mixed use development are bleak. In this context DDA’s much touted Karkardooma signature project being the transforming element initiating a major change in future urban development synergising transport and land use, is likely to be a let down. DDA has not to date prepared a proper master plan of this corridor stretching from the Yamuna bank to Anand Vihar, nor has it prepared a detailed services infrastructure layout. They are however ready to go ahead with the development of the so called E Delhi hub at Karkardooma, for which they have tied up with NBCC to implement the project. The site at Karkardooma is an isolated 75 acre pocket of land situated at the east end of the Delhi urban area, near the Anand Vihar railway station, adjoining the UP border. The proposed 5000 crore hub is in the middle of nowhere, and is unlikely to act as a trigger for similar high intensity development in other areas. It just happens to be a rare large vacant site, surprisingly clear of unauthorized slum settlements to date. Despite the tantalizing visuals of multistory towers including a 100 floor iconic tower, a 5 acre park, and a mixed use promenade, and a series of safe pedestrian roads, the much touted East Delhi hub will become an isolated development with no active connection to the surrounding areas. The possibility of it becoming a part of the high intensity TOD corridor along Vikas Marg will remain a fantasy for some time to come. What makes the proposal more unrealistic is the DDA signing up NBCC to prepare detailed development plans for this area. NBCC is essentially a government owned construction agency – a glorified building contractor. It has no technical planning, urban design and architectural skills. There are no qualified planners or urban designers on their staff, and their recent foray in the development on government land in the prime areas of New Netaji Nagar and East Kidwai Nagar are both shoddy planning exercises. New Netaji Nagar may look and feel exotic because it is built in a prime area at less than half the permissible density as per the Delhi Master Plan. East Kidwai Nagar currently under construction is badly laid out, with a monotonous repeat of standard government housing achieving an FAR of 203, well below the permissible FAR of 300. To entrust such an agency that does not have the required planning and design expertise, with the actual implementation of such a major development project betrays DDA’s complete lack of responsibility, in terms of the future development of the city. Before actually setting about the actual implementation of this project, DDA needs to do a detailed review of the total existing services infrastructure network in the entire East Delhi zone, and prepare a segment by segment proposal to upgrade the systems to be capable of supporting the proposed massive increase of development, along with the inevitable increase of population. A future city of skyscrapers cannot be developed, by simply doubling the builtup area, without first planning and preparing a proper infrastructure support base. Recent reports suggest that DDA is now also planning to undertake the development of a complex of multistory towers, adjoining Sanjay Lake in East Delhi. This is another totally arbitrary exercise, unrelated to the Delhi Master Plan or the TOD corridors. It would appear that DDA has lost its bearings, and is indulging in a series of fanciful exploits, ignoring the many very real urban issues within the Delhi urban area that need to be urgently addressed.The author,Ranjit Sabikhi has been in practice as an Architect in New Delhi since 1961. He taught at the School of Planning & Architecture in New Delhi from 1959 to 1975 and has also been a Visiting Critic to the Urban Design Program at GSD Harvard University and the School of Architecture at Washington University St. Louis
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For those who see India as a rapidly developing emerging economy, yogic traditions represent an opportunity to achieve nirvana in a capitalist dystopia, says Vivan Sharan Today the world will awaken to the ‘International Day of Yoga’, perhaps with a Surya Namaskar. While some would dismiss this labelling as an attempt by the new government to refine India’s ‘snake charmers and elephant herders’ image on the international stage; others may think of this as an attempt to ‘saffronise’ the global events calendar. A few may think of it as a brilliant marketing gimmick. PM Modi may not have given it any more serious thought than this. However, it stands to reason that since it is already instituted, the international day of yoga must now be neatly placed within India’s soft power projection as well as its larger economic and political aspirations. The origin of India’s soft power narrative is closely tied to the Non Aligned Movement (NAM), of which most former colonies were a part in the early nineteen fifties. Jawaharlal Nehru championed the NAM, the influence of which isstill seen in India’s foreign policy. The country went on to become a leader within the Group of 77 (G-77) in the mid-sixties and spearheaded the development agenda in various important debates ranging from climate change to global trade. On account of its large population and growing economic footprint, the India’s participation still holds key to G-77 contributions to the global governance discourse. Vivan SharanFor many who see India as a poor developing country, like the rest of the G-77, India’s yogic traditions are likely perceived through orientalist lens. That is, yoga is assumed to be a practice developed by scantily clad men, living Spartan lives, isolated in forests. There is a sort of temporal dissonance in seeing yoga as such. On the other hand, for many,India has also come to be associated with rapid economic growth fuelled by a highly skilled workforce. While the specific drivers of this economic growth narrative remain nebulous to a majority, information technology is seen as India’s ‘x factor’. Silicon Valley is arguably India’s soft power nerve centre, even as it is not physically situated within. And there is no shortage of yoga instructors in the San Francisco Bay Area. For those who see India as a rapidly developing emerging economy, yogic traditions represent an opportunity to achieve nirvana in a capitalist dystopia – as the IT entrepreneurs likely have done with the return of high IT valuations in the financial markets! The rigours of the typical sedentary white collar job, staring at computer and phone screens, transiting between airports and hotel rooms, have given birth to a ‘wellness’ industry that attempts to save modern man from the pitfalls modern life. And yoga takes centre stage in the plethora of wellness solutions that help rejuvenate, resuscitate and reflect on the present, even as attention spans attenuate. Increasingly India is also seen to be moving from its role in the ‘global opposition’ as part of the G-77 to a new role on the global high table, as part of groupings such as the G-20 and BRICS. This transition to become an agenda setter from being an agenda taker has been accelerated by the financial crisis originating in the transatlantic economies. Although India’s capacities to set the rules for the road in terms of redesigning the global financial architecture or standard setting in the global value chains of trade remain strained; inclusion in such elite economic groupings has sharpened its ‘brand value’ abroad. Meanwhile the 21st century India is increasingly choosing to describe itself as both an emerging and developing economy. At least Indian diplomats and policymakers seem to be fairly comfortable with this sometimes amorphous identity. To the extent that this allows the country flexibility in global negotiations, it is hard to debate. Where it needs to be assertive it can emphasise its emerging country image, and where it seeks to be defensive, it can rely on its developing country image. For those who have begun to understand this India, yoga likely represents a convenient bridge between the known and the unknown. Complexity is widely considered to be an Indian characteristic. And complexity is enmeshed in every aspect of life in India. It permeates family structures, social groups, class hierarchies and of course decision making at all levels including executive, judicial and legislative. For foreign investors, the country has come to represent a group of economies that offer unparalleled investment returns. Simultaneously, it has the dubious distinction of being a risky investment destination where political support remainscritical to business activity. Such boundless commercial opportunities and intractable ground level challenges co-exist seamlessly. PM Modi’s hope should be that somewhere within the scope of its complex self-identity, this branding exercise serves to enhance its projection as a regional and global power. From a purely realist point of view, it is irrelevant whether the true depth of the yogic practice is understood, whether India spends a minimal proportion of its budget on healthcare and wellness or indeed whether yoga continues to be largely associated with difficult postures and better physique. Vivan Sharan is a Partner at the Koan Advisory Group and a Visiting Fellow at the Observer Research Foundation
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As we celebrate International Yoga Day, the teachings of Paramahansa Yogananda guide truth-seekers on the spiritual path, says Hitendra Wadhwa, Professor of Practice, Columbia Business School and Founder, Institute for Personal LeadershipGreat movements seize the world’s imagination and trigger powerful transformations in human conduct. Gandhi’s teaching of Ahimsa (non-violence), for example, became the guiding force for the people of India to successfully wage a peaceful revolution against British rule. Ahimsa has since been adopted by many other groups engaged in social and political reform, such as those in the African American community in the 1960s who, stewarded by Martin Luther King, successfully used it to pursue the cause of civil liberties. By abjuring violence, we feel we are faithfully following Gandhi’s illumined path of Ahimsa. But like an iceberg, any outer transformation in human conduct is only a small fraction of the truth a great movement embodies. Those who have embraced Ahimsa solely as a practice of nonviolent behaviour have missed Gandhi’s deeper message. “Ahimsa”, he said, “is not the crude thing it has been made to appear. Not to hurt any living thing is no doubt a part of ahimsa. But it is its least expression. The principle of ahimsa is hurt by every evil thought, by undue haste, by lying, by hatred, by wishing ill to anybody. It is also violated by our holding on to what the world needs.” When we attune ourselves to a great movement’s deeper message, we discover that, at its root, it is inviting us to pursue inner transformation, not simply outer transformation. And so, as we celebrate International Yoga Day, perhaps we will benefit from reflecting not simply on the outer transformation that Yoga has come to stand for in modern times, but the possibilities it holds for inner transformation as well. Yoga, a discipline from India that is so ancient in its roots that we can only credit it to unknown truth-seekers from some glorious past era, has an outer form that has seized our collective imagination: for 30 minutes every day, disconnect from the world, take your body through an array of yoga poses, breathe deeply, keep the mind focused, and presto! You will emerge relaxed, rejuvenated, and ready again to re-engage with the relentless pace of life. By all counts, yoga is one of modern civilisation’s great movements. In the US itself, more than 20 million people today are pursuing yoga--one out of every 10 adults. This yoga revival is in direct response to peoples increased hunger for physical and mental well-being, and a growing suspicion that there’s more to the pursuit of happiness than the material accoutrements of modern civilisation. A panoply of yoga instructors have arrived to offer their own twists to ancient poses. Western inventiveness has flourished in the bountiful soil of yoga; today, some instructors are even offering Doga--yoga for your dog. But what is the deeper message of yoga? Is there something altogether more powerful for us to seek beyond outer transformation through lower stress, more toning, and greater fitness? Many practitioners sense that yoga is inviting them to embark on an inner journey, but don’t know where it will take them, and how to get there. For this deeper dive, we can turn to the Yoga Sutras of Patanjali, one of the authoritative and few-surviving ancient texts on yoga. Patanjali teaches that “yoga” means “union”--the dissolving of one’s individual self in the larger ocean of consciousness that pervades the universe--and that to help us achieve this union is yoga’s real purpose. Now you might think, “What is this ‘universal consciousness’ that Patanjali is talking about? And how can I ever get there?” Enter Paramahansa Yogananda. Born in 1893 in Gorakhpur, India, this modern-day seer alighted on American soil at the young age of 27 with little money in his pocket but a firm resolve to reawaken humanity to the power of yoga for inner transformation. Over the next three decades he brought this message to packed audiences of thousands at congregations in all major US cities, dressing this ancient teaching in a practical modern form he called Self-realization – a journey he characterised as shedding your individual self (ego) and realising and reclaiming your true universal Self (soul). As people were being buffeted by the thunderous wrath of two world wars and a major depression, he exhorted them to practice yoga so they could discover that the spiritual anchorage they were seeking was already with them--in fact, it was within them. The successful yogi, he stated, “can stand unshaken midst the crash of breaking worlds.”As he traversed the continent delivering his message of yoga, US President Calvin Coolidge invited him to the White House for a personal audience. Today he is recognized among yoga experts as the father of yoga in the west. Great teachers look into the vast beyond and then craft their message to speak not just to their immediate audience but to future generations as well. As early as 1920, Yogananda recognised that yoga would be a boundless fountain to quench peoples’ growing thirst for meaning, authenticity and a personal experience of truth. So he laid the foundation of an institution, Self-Realisation Fellowship (SRF), along with a sister-organisation in India, Yogoda Satsanga Society (YSS), to ignite the inner flame of yoga in communities worldwide. He once said, “I don’t use religion for business but I use business principles in religion.” Today, there are hundreds of SRF/YESS meditation groups and centers around the world that serve tens of thousands of members. He also worked to develop living exemplars of his teachings by setting up a monastic order within SRF/YSS that today includes more than 250 monks and nuns dedicated to their own pursuit of soul-unfoldment and to serving his organisation’s mission. Yogananda’s teachings don’t simply stop at the idea of universal consciousness. He correctly anticipated the growing hunger among spiritual seekers for direct personal experience of the universal consciousness that the masters of yoga, and indeed mystics of every religious tradition, describe. He therefore synthesised a set of powerful but practical techniques to guide truth-seekers on the spiritual path all the way to the ultimate union, drawing on the eight steps laid out by Patanjali in the Yoga Sutras. The modern conception of yoga -- with its emphasis on outer transformation--is based on the third of Patanjali’s eight steps, “asana.” Asana emphasises physical fitness for the purpose of getting the body ready for the stillness that is required for the inner journey taken in the subsequent steps. But prior even to asana are Patanjali’s first two yoga steps of “yama” and “niyama” -- principles to guide one’s everyday conduct and to prepare oneself for inner realisation. Yoga emphasizes the importance of self-discipline as a foundation for harmonious physical, mental, and spiritual development. Yogananda’s particular genius was showing the modern applicability of these ancient principles, attuning himself to an audience who aspired as much to outer success as inner growth by delivering talks on topics like “The Science of Healing” and “The Art of Getting What You Want.”In that regard, he was a forerunner to 21st century psychologists, physicians, psychotherapists, and neuroscientists who are generating powerful scientific findings on human nature and well-being—all aligned with Yogananda’s teachings on consciousness, thoughts, emotions, habits and brain wiring. Patanjali’s final five steps beyond asana relate to a progressive deepening of the seeker’s journey toward realisation of the universal self, with meditation providing the pathway. However, Patanjali’s text on these final five steps is agonizingly cryptic, with no guidance on how to execute them. To fill this void, Yogananda, ever the spiritual innovator,introduced the West to an advanced but long-lost ancient technique of meditation, Kriya Yoga. Kriya, he offered, would take you on the ultimate journey of inner transformation, helping you tap into an ever-expanding love and ever-deepening joy that would spring from within. That, he asserted, was man’s true nature--a perfection that represents our permanent state of self within, even as it is so elusive to capture without. Kriya “works like mathematics”, he stated, emphasising the empirical, scientific nature of this technique. Through regular practice, he claimed, Kriya will change the neural pathways in your brain. Really? Can the act of mindful focusing and of interiorizing our consciousness actually bring about physical changes in the brain?Very few scientists at Yogananda’s time would have felt comfortable with his claims. Yet today revolutionary new findings in neuroscience are showing that meditation does in fact bring favourable changes in the neural pathways of the brain. Scientific laboratories are now stumbling into truths experienced by yogis across the ages in, as Yogananda would say, the inner laboratories of their personal experience. And what would be the markers that people could look for to assess their inner progress? Lower stress? Greater peace? He had begun his own quest for Self-realisation very early in life, a story vibrantly captured in the award-winning 2014 documentary, “Awake: The Life of Yogananda.” His youthful search culminated in his master Sri Yukteswar giving him the monastic name “Yogananda,” which means “bliss through yoga.” True to his name, he exhorted truth-seekers to savor the early rewards of peace and well-being, but to then seek out the ultimate prize: eternal bliss, universal consciousness. “When by constant practice of Kriya, the consciousness of [the] blissful state of the spiritual self becomes real, we find ourselves always in the holy presence of the blissful God in us.”God, to Yogananda, was thus not an external force to be idolized and appropriated by any particular religion, but an inner force to be awoken to and realised. To some, the yogic pursuit of inner perfection may appear a little selfish. Shouldn’t we be engaged in solving the world’s most vexing problems, rather than be withdrawn in blissful inner communion? In fact, one time, when Yogananda sat still, absorbed in a particularly blissful state of consciousness, his spiritual master admonished him, “You must not get overdrunk with ecstasy. Much work yet remains for you in the world". So Yogananda learned that this choice between outer service and inner joy represents a false dichotomy. The yoga he taught emphasizes balancing service with meditation, and highlights the expansion of consciousness that comes when we are able to go beyond our human self and open ourselves up, through inner realization, to a deeper connection with every living being--in fact, with every atom in the universe. “When the ‘I’ shall die, then shall I know who am I”, he stated. Yogananda make a triumphant return to India in 1935-36, where he spent time, among others, with India’s other great saints Anandamayi Ma and Ramana Maharishi, and nobel laureates C. V. Raman and Rabindranath Tagore. He also met with Mahatma Gandhi in 1935, amid the height of Gandhi’s political and social activism. Ever humble, Gandhi’s first commitment in life was to evolve himself, not the world around him. What better way to accelerate the inner journey than to pursue what Yogananda called “an airplane route” to universal consciousness, Kriya? So on this one sole occasion that life brought them together, Gandhi took initiation in Kriya Yoga from Yogananda. The bond between the two messiahs must have been very special; upon Gandhi’s assassination, Yogananda received and enshrined some of Gandhi’s ashes in the beautiful grounds of Lake Shrine, an iconic Self-Realization Fellowship temple in California. Since Yogananda’s passing in 1952, many teachers have followed his trailblazing path to bring yoga to our world, helping make it a fixture in popular culture as it continues to take hold with young and old, the elite and the ordinary, the spiritualists and the atheists. What distinguishes Yogananda from these subsequent emissaries is not simply that he paved the way for the modern yoga movement, but that from the outset he focused far beyond physical exercises and shone a powerful and practical torchlight on the path to yoga’s true purpose: actualising the infinite potentials within us all. “[Yogananda]’s probably been the greatest inspiration for me”, the quiet BeatleGeorge Harrison once said. "I keep stacks of [his book]Autobiography of a Yogi around the house and I give it out constantly to people. When people need 'regrooving,' I say read this, because it cuts to the heart of every religion.” Compare this toSteveJobs,whorarely revealed to people his fondness for Yogananda’s autobiography – the only book he had on his iPad. And yet, upon his passing, he arranged for every attendee at his memorial service to be given a box that contained his farewell message to them: the book “Autobiography of a Yogi.” So why is Yogananda not a pop icon at a time when yoga is the great movement of our times? During the 1920s, Yogananda, who was much in demand on the speaker’s circuit, consciously decided to withdraw from public speaking so he could focus on building his organization, recording his teaching, and mentoring his flock of early monastics. “I prefer souls over crowds”, he said. And then he added, “But I love crowds of souls.”With the growing interestin mindfulness and meditation, perhaps these words will prove to be more prophetic than wistful. On this first International Yoga Day,the time may have come to tip our hats to the teacher who first introduced the modern world to the transformative power of yoga as a timeless inner discipline. So as you roll out your yoga mat, get into your favourite yoga pose and feel a gentle zephyr of peace sweep over you, perhaps you can take pause to wonder at what experiences in consciousness may lie just beyond your present reach if you embark on yoga’s fuller, inner journey toward Self-realisation. Yogananda would have called those experiences “undreamed of possibilities.”
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If you are planning to fund your home purchase through a loan, ensure that your EMI is not more than 40 per cent of your net take-home pay, says Sunil DhawanBuying a property to have a home of your own requires money, time, lots of running around, even surfing property portals. But, its actually worth the effort. The house you buy is the biggest investment that you will make in your life. So, do not rush into the process. There is merit in taking out time and consulting real estate professionals, home finance companies, like-minded friends and members of the family before arriving at a decision. Thanks to the sweeping economic changes that India has undergone over the last decades of economic reforms, people are not only able to save and buy their first home in their late 20’s or early 30’s, but also service the home loans well within their working life. Prices of real estate -- as seen in the past -- shoots up fast, if not in minutes and hours but certainly in days. But then, they aren’t looking to move up in the near future either. For someone to buy a home for living and not as an investment purpose, it’s always the right time. Amura Marketing Technologies in association with 99acres.com are organising flash sales on www.irfs.in , there will be properties galore but one needs to be watchful when it comes to buying or booking properties online. Here are few things to consider while searching for your dream home: Stick With Reputed Developers. There isn’t a real estate regulator in place yet. Builders therefore have been taking buyers of real estate properties for a ride. To be on safer side, stick to reputed builders. One can take a chance with them for finishing the project in time and as per the agreed terms and conditions. Builders who are listed on stock exchanges can be preferred as they are mandatorily required to meet transparency standards. What You See Is Not What You Get: “Hathi Ke Dant Khane Ke Aur Dikhane Ke Aur', an old Indian idiom probably fits in real estate practices. What you see is not what your get because the area mentioned in most property advertisements and for calculation purposes is the super built-up area, while the area that you really get is the carpet area, which could be lesser by up to 30 per cent or more depending on the building’s design. Lower the ratio, better for consumer and therefore get to know the ratio from builder during the discussion phase. At times, there could be a specific apartment within the same project having a favourable ratio (could be less than 20 percent) while all other apartments ratio could be 30 percent. You need to pursue the builder in disclosing this aspect as normally they keep it hidden only for hard-pressed deals. Is ‘All-inclusive’ Actually Inclusive? In most cases the price advertised will be the cost of the house. But there are other charges you would need to pay. Mostly, the extra costs for things like a car park, club membership, power and water connections, will add up to a substantial bit. Don’t be surprised if what you finally end up paying is more than the advertised price. Do not over-leverage. If you are planning to fund your home purchase, even for the first one, through a loan, ensure that your EMI is not more than 40 per cent of your net take-home pay. No Over-stretching: If you are already servicing EMIs, make sure not to over-stretch your finances. Moneywise, you may be in a comfortable position today but do a due diligence on the situation few months, years down the line. See, if you have a back-up plan with your spouse pitching in and contributing towards EMI’s.
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The decreasing life cycle of gadgets and increasing consumption patterns puts stress on the limited natural resources of this planet. It’s time the Govt and the Industry spell out the compliance standards, says Puneet MehrotraLifecycle of a GadgetAs a kid I remember walking into my father’s bedroom every morning and listening to the grand old radio in that huge wooden console at 8.00 am every morning. That wooden console radio was a fixture in that room for almost 40 years or maybe more. I even managed connecting my walkman to its speakers. I don’t exactly remember where that radio is now but I guess it must have completed half a century before being dumped. The good old TV set lasted around 20 years and my walkman lasted a good 6-7 years. The last cell phone lasted maybe a few months or maybe a year or two. The Impact of TechnologyIn a conversation with Sarah O’Brien, director Green Electronics Council said “While there has been a huge positive impact of technology in terms increasing efficiency and cutting down paper wastage there are huge environmental concerns and these concerns must be addressed by the industry now.” There is an urgency and the fact needs to told. EnoughProject.com puts quite bluntly “Your mobile phone, your jewelry, your computer, and your gaming system all contain minerals that fuel fighting in eastern Democratic Republic of Congo.” Stress on Natural Resources:The decreasing life cycle of gadgets and increasing consumption patterns puts stress on the limited natural resources of this planet. The assumption being natural resources are limited, whereas consumption is not. Cell phones, iPads, laptops use a lot of precious metals, minerals and more that are sometimes procured from war torn countries and some of this has been procured by allegedly dubious means too in pursuit to meet the demand. What that means is that that gadget in your hand may mean exploitation and blood of someone in Africa. According to EnoughProject.com in 2009 the then Secretary of State Hillary Clinton highlighted the link between armed conflict, sexual violence, and minerals when she visited eastern Congo in August 2009, arguing that the world needs to do more “to prevent the mineral wealth from the DRC ending up in the hands of those who fund the violence. Irresponsible Patterns in ConsumptionWhile industrial consumption of technology maybe somewhat need based but on the consumer side there is a huge proportion of consumption that is more attitude based more than need. Take for instance the lifecycle of gadgets. According to Sarah O’Brien “In developing world lifecycle of a laptop or a cell phone is 2 years or less.” The Environmental Protection Agency (EPA), estimates the average person dumps almost 4.5 pounds of waste into landfills every single day. A huge proportion of that contains precious metals. The minute differences maybe not be understood by the consumer yet the attitude that the gadget has to be “upgraded” every year has a huge environmental cost to it. Companies like Samsung and LG maybe at an advantage due to the demand thus creates but there is a huge opportunity cost being lost due to irresponsible use of precious metals. Whether required or not a business can create need by simply playing around with emotions. While Flipkart may say it’s in the business of “fulfilling wishes” but is it just that simple? Does a business only have commercial costs or should it have “green” costs as well? More importantly can we really afford this consumption? What is the way out? Are the lives of people in developing and developed countries more valuable than those people in “raw material conflict countries”? The Way Forward Activism: EnoughProject.com The Enough Project works to end genocide and crimes against humanity, focused on areas where some of the world’s worst atrocities occur. Enough was conceived in 2006 by a small group of concerned policymakers and activists who wanted to transform their frustration about inaction into pragmatic solutions and hope. Co-founded by Africa experts Gayle Smith and John Prendergast, Enough launched in early 2007 as a project of the Center for American Progress. Enough is based in Washington, DC, and works with concerned citizens, advocates, and policy makers to prevent, mitigate, and resolve crises of genocide and crimes against humanity. Green CertificationOrganisations like GreenElectronicsCouncil.org are playing a huge role in greening businesses by inspiring and catalyzing environmental leadership throughout the lifecycle of electronic technologies On the recipient side take the case of Ricoh India which recently India recently received Silver ratings for a total of 32 of its imaging equipment products marketed in India, including MFPs and printers, as qualified by the Electronic Product Environmental Assessment Tool (EPEAT) registry. Ricoh is the first manufacturer to have its Imaging Equipment products meet the stringent environmental benchmarks in India as established by the EPEAT rating system. Urban MiningThere are billions of dollars worth of precious metal in landfills. According to Triplepundit.com CE device manufacturers use some 320 tons of gold and more than 7,500 tons of silver every year in churning out iPads, Galaxy Tabs, notebooks, PCs, smartphones and the growing profusion of CE devices being pumped into markets worldwide. That’s enough to add more than $21 billion a year – $16 billion in gold and $5 billion in silver – “to the rich fortunes in metals eventually available through ‘urban mining’ in developed and developing countries alike,” according to a Unu-Gels e-waste conference synopsis. In a recent experiment in Sweden over 440000 pounds of precious metals were recovered from a huge landfill of electronic gadget waste. The practical application of that experiment however is yet to be established. Industry MeasuresEICC Coalition has set up standards on social, environmental and ethical issues in the electronics industry supply chain. Founded in 2008 by members of the Electronic Industry Citizenship Coalition and the Global e-Sustainability Initiative, the Conflict-Free Sourcing Initiative has grown into one of the most utilized and respected resources for companies from a range of industries addressing conflict minerals issues in their supply chains. The Last WordThere is urgency in environment and conflict free sourcing compliance. The last thing any consumer of a cell phone or gadget would want is blood on his hands of some poor African or that the precious metals used in his phone come from zones of exploitation of some African country or the demand of precious metals leading to gangs at war in pursuit of control of these metals in poverty countries. LGs, Samsungs and the Sonys of the world cannot ignore this. It’s time the Govt and the Industry spell out the compliance standards. The US only recently spelled that out. India being one of the largest consumers of cell phones and gadgets needs to spell that out urgently. The author, Puneet Mehrotra, is a columnist on business and technology Write to him at puneet@tbe.in
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The participation of private players in the healthcare sector has been critical to this big nation, where everybody does not have the access to Primary Health Centres. And they are doing well, the task in providing best and the cheap healthcare facilities to the people. To explain what the current scenario in Delhi is we spoke to Niranjan Kumar Ramakrishnan, chief information officer of Sir Ganga Ram Hospital, New Delhi. He was in conversation with Haider Ali Khan in the Second Healthcare Summit organised by Businessworld on Friday. Sir Ganga Ram Hospital is a 675-bed multi-speciality hospital in the capital. How are you different from other new players which has entered into healthcare sector?We are not at all hampered by the off late entry of these private players. We are focussed and engaged on our progressive and quality works, we strongly believe our 5 decades of services earned us great amount of good will that would keep us ahead of rest of the healthcare organizations. Our main stakeholder is our patients and the trust and care we impart is our main strength of survival. We are keeping our legacy alive by serving the people without putting extra burden into their pockets. What is there for the poor that you offer?We at Sir Ganga Ram are committed to serve the poor and hence, we meticulously fulfil our commitment to the Government, and keep the defined bed strength reserved for the poor and those who are financially weak. When we offer free OPD and IPD services we really mean it and we do not burden them in any ways but our quality of service between paying and free patients remain the same. How much the latest technology is helping you?The advent of latest technologies have changed the medical profession. Vendors always say that latest technologies are always adopted in Sir Gangaram Hospital even before others know what it is! When all other hospital still understands what Cloud Computing is, Sir Gangaram Hospital is already a great user of Cloud. It is privilege to associate with an organization where the Board of Management and Trust Society's great understanding on the value of any new technology such as Cloud, advanced Biometric technologies, eProcurement, SMAC and extends whole hearted support for adoption. We believe Cloud is the future of healthcare industry. What are your future plans?Our hospital is using this technology to manage the data of patients and the treatment offered to them, work is now paperless and in few years we will completely available on cloud. OPD automation - dream project of Dr. D.S.Rana, Chairman, Board of Management will take Sir Ganga Ram Hospital to great new heights and it is going to be great value and much easier for the patients to manage their records and can easily access from anywhere in this world. We are growing in many folds and our new facilities and buildings are rising very fast that would improve our OPD systems and also increase more beds. We will continue to make giant positive difference in Indian Healthcare Industry.
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Businessworld organised the Second Healthcare Summit on June 5 in New Delhi. It was attended by well-known doctors and professionals from the healthcare industry. Dr Nandakumar Jairam, chairman and group medical director of Columbia Asia Hospitals, shared his views on the industry with Haider Ali Khan. Jairam is a former professor and head of the Department of Surgery at St. John's Medical College Hospital, Bangalore. He is a renowned surgeon and popular teacher. What is the way ahead for the private healthcare sector in India?The way forward for private players in India is very bright and the kind of response we are getting is tremendous. We are also operating overseas. The working atmosphere in India is good and we will improve it as much as we can. Tell us about the expansion plans of Columbia Asia Hospitals?Expansion is always a welcome initiative and we are expanding keeping in mind of our resources and logistics. We are already in Malaysia, Vietnam and Indonesia, and preparing to widen our reach to other countries. In India, we are operating from 11 centres and we plan to expand to new cities. How are advances in medical technology helping you?Like in other fields, we are improving with technology. There is innovation going on every single day and we in the healthcare industry need to be updated with these developments. There are many new technologies that have replaced outdated medical equipment. Today cloud computing has changed everything. We are evolving with this and all the data of our patients and management is being made available on cloud. Cloud is the next big thing and it will prove a bigger leap for all of us. How do you cater to rural areas?We are only focusing on cities at present. I hope we will be able to provide healthcare in rural areas in the near future. But our focus remains on major cities and towns of India. What are your areas of expertise?We at Columbia Asia Hospitals offer treatment in almost all medical branches. We have teams of well qualified doctors and good support staff to provide the best possible care to our patients.
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