Emerging entrepreneurs

The year 2014 has come to an end. What a turbulent and cacophonous year it was. Nevertheless, ending this year on a motivating note. Here is the list of articles in which the stories of emerging entrepreneurs in India is shared. Who says, India lacks talent? It's only a matter of time when the Make in India program will get transformed into Make for India, Live for India and Serve for India.

Pipping hot news and in your palm too

Giving electric scooters a positive charge

Powering up payments on the go

Incubation model help building ecosystems

Softbank invests $90mn in housing.com

The PPP way to growth

While big-ticket reforms are held up, let’s address infra concerns

Again a goodread from The Hindu's Businessline, an excellent newspaper for policy making articles.

That the Narendra Modi government ran into a wall of Opposition in Parliament in trying to push reform legislation in coal and insurance is unfortunate Even so, ordinances cannot institutionalise a new model of governance; at best, they may only signal to a restive industry that the Centre means business and buy some time to cobble up a consensus in Parliament. But even if such a consensus on amending laws on land acquisition, labour, mining and the financial sector takes time in coming, there are enough areas where supply side constraints can be eased without breaking into so much as a sweat. One of these is allowing for renegotiation in new PPP projects, if not in existing ones. The 3P India initiative, announced by Finance Minister Arun Jaitley in the Budget, marks a salutary attempt to address “weaknesses of the PPP framework, the rigidities in contractual arrangements, the need to develop more nuanced models of contracting, and speedy dispute redressal”. This process needs to be cranked up for the over 900 PPP infrastructure projects in the fray, involving a credit exposure of nearly ₹9 trillion.

In this context, the recent RBI circular extending the so-called 5:25 scheme to existing infrastructure projects is to be welcomed. These projects can now get finance over 25 years, with the banks being allowed to refinance or sell out their loans every five years. This is a way out of the stressed assets logjam that has frozen up both the supply and demand for credit. The growth of bank credit to infrastructure sectors fell from 45 per cent in 2011-12 to 18 per cent in 2013-14 and has been trending downward since. Banks cannot lend beyond a tenure of 10 to 12 years due to their asset profile, and this impacts both the viability of the loan and the costing/pricing of projects such as roads and metros, among others. The India Infrastructure Finance Company, set up in 2006 to overcome the asset-liability mismatch, does not seem to have made enough headway.

However, as the Finance Minister observed, finance is only one of the problems weighing down PPPs. Contracts need to be renegotiated when macroeconomic shocks overturn earlier assumptions. To ward off allegations of crony capitalism or litigation from bidders who lose out in the first stage, it is important to create a credible institutional mechanism. This is precisely what 3P India should set out to do, besides thinking up innovative financial instruments and concession agreements. It could ease up exit conditions, so that promoters can use the freed up capital for other projects. Pricing should combine public purpose considerations with those of risk and efficiency. Pushing big ticket reforms is no cakewalk in a raucous polity such as ours. Yet, a robust PPP framework can make a difference in cranking up investment and growth.

For those who don’t like Mondays; how does ‘everyday Friday’ sound?

I came across this article on economic times blog. I think its worth reading once:

The most difficult task for any boss or organization is to ensure employees look excited about coming to work on a Monday morning. An HR head from a multinational firm once told me how he gauges the engagement levels of employees by their mood on the morning of the first day of the week. That gives him a sense of whether he needs to dig deeper into any issue that may be bothering them or grasp any matter that may require the organization’s immediate attention. If the mood is good on a Monday morning, then there’s nothing to worry about.

What is it about Monday mornings that makes it a little less exciting than Fridays? A funny video that has been doing the rounds on WhatsApp brings out the employees’ state of mind quite clearly. It first shows a sprightly penguin jumping around in gaiety on a Friday, and then the scene cuts to a Monday morning that features a lazy seal trying to drag itself uphill.

But jokes apart, unlike most beginnings – a new venture, New Year, a new house, a new journey, a new job or may be a new posting – why is the beginning of the week considered to be a little less motivating for some? Is there something missing at the place of work that employees love Fridays more than Mondays?

Beginnings, otherwise, are usually exciting. There is an element of surprise at the start of one’s journey. There are expectations in anticipation of forthcoming events. The adrenaline levels are high, which translate into better productivity levels. But these beginnings are not a weekly affair. They don’t make an appearance as often as a Monday does. In an employee’s mind, the week can appear like a mountain on a Monday that has to be crossed to get to Friday.

What if there was no sense of a mountain and the workplace recreated an atmosphere of “Everyday Friday” even on a Monday? (This requires a rider: It does not mean employees can wind up early, not plan for the next day and not come to work the following day, like on a Friday!) But the ambience can be made more Fridayish. It only requires a little extra effort on the part of the organization and the leaders therein. May be the first meeting on a Monday could be set in an unconventional place – it could be a garden or a cafe nearby.

This would ensure two things. One, it would perk up employees and two, to everyone’s surprise, it may even have a positive effect on creativity and productivity levels of employees who would then certainly look forward to coming to work on a Monday.

For powerpoint presentation meetings, other fun things could be considered. Based on feedback from employees (their involvement is important) on how Mondays could be made more exciting, the organization can come up with a different plan.

A Towers Watson Global Benefits Attitudes survey shows how levels of workplace disengagement significantly increase when employees experience high levels of stress. According to the research, of those employees who claimed to be experiencing high stress levels, over half (57%) also reported that they were disengaged. In contrast, only one in ten (10%) employees claiming low stress levels said they were disengaged and half of this group claimed to be highly engaged.

The report talks about how companies need to take more responsibility towards employees’ wellbeing and happiness. This would only go a long way to ensure higher productivity levels at the workplace.

As a rule, organizations could make Mondays a `stressfree’ day; let people warm up to the week, just like the motor of a car requires a little bit of revving after a few days of immobility before it gets rolling on the road. Let employees gradually gear up to the week. On a higher gear, even a car cannot take a steep climb. If employees have lower stress levels at the start of the week, they would be well conditioned to deliver better results during the week.

Three months into implementing this exercise of Everyday Friday, it would be interesting to know the impact of the same on Monday attendance levels. Organizations could make this their New Year resolution.

Source: EconomicTimes Blog

Hydro power potential in South Asia

Himalayan rivers offer immense potential to the power sector in South Asia. China has been building huge dams on Bramhaputra river. India needs to form a coalition with its neighbouring countries like Nepal,Bhutan,Bangladesh and even Pakistan to tap the potential of these rivers as far as power generation is concerned. This region is so blessed by water and sun, if the hydropower potential and solar power potential is harnessed, we would not required to sign and nuclear power treaty with any nation in the world. All we need to do is get our act together and expedite the projects.

Here I share a good read on The Economist on the hydro power potential in the Himalayan region.

South Asia’s hydro-politics

Heartbreak

Every single person under the sun will go through the pain of heartbreak in his/her life. The pain is one thing which everyone from all walks of life, can relate to.No one in the world will be able to instantly take away your tears or heal the wounds that have been inflicted upon you. Only time can help here. However, what is hardly ever said about heartbreak is , the lessons we learn and take away in the times of emotional tragedy.

Without love for the other, there would never be this pain. And, without heartbreak, there would never be such amazing love. This may sound like the ultimate paradox, but losing someone you love proves to be an incredible learning and growing experience. You may be reading this thinking “Fuck you, you bastard. My heart’s in shambles right now and you want me to think this is going to turn into a good thing?” As confusing and almost insane as it may sound, having this happen may change you in so many different ways. One thing which it will do is definitely bring you out of your comfort zone. Your preconceived notions about people will change.

Having a hard goodbye, to someone you love, is one of the toughest thing to do but moving on with your life will only enhance the times you have with other loved ones. Going forward it will only deepen every minute you spend with the people about whom you truly care. 

One important lesson which you will learn is to be able to start forgiving with more ease and forgetting about the things that don’t really matter so much. Your endurance to bear this hardship will only make you a stronger person. You will be able to make out whom you should let in and who can’t stay in your life.This will open your whole life up to more and more great experiences because you will be able to share it with people who genuinely care for you and whom you really care for.

Nevertheless, it’s not a perfect system and it should not happen to anyone. Sometimes we become absolutely helpless. But, there will be another tomorrow, another day felt with warmth,affection,passion and love will embrace you one day..

Just remember that your bumps and bruises will heal and the scars will faint over the period of time. Time will help you heal, and heartbreak itself will help you grow. In what is, undeniably, the hardest, most painful life lesson one could ever learn, heartbreak will help mould the rest of your life. Only if you don't let the heartbreak get converted into a setback, it will teach you to love better and love more and more importantly value love....... 

Restoring your phone back to Android 4.4.4 from Android 5

            Last week I upgraded my Nexus 5 from Android Kitkat to Lollipop. I was really very excited and was expecting an IOS like look and feel. Though, I must admit that it was naive on my part to have such expectation. It was only after upgrading to Lollipop I read the reviews on the internet and one review which really summed up my feeling was "After upgrading to Lollipop, you wish you hadn't....".

So, today I downgraded my phone back to Android Kitkat 4.4.4. I must say rather restored the glory of my phone :)

Below are the steps to manually flash it to Android Kitkat 4.4.4:

1. Download the Android Kitkat 4.4.4 image from Google repository for Android

2. Download ADB tools from ADB Tools

3. Unzip the above ADB tools and install the ADB driver using  UniversalAdbDriverSetup.msi file.

4. Move the factory image file downloaded in step 1 into the ADB Tools folder and unzip it.

5. Unlock the bootloader using the steps below:

    5.1 Turn off your nexus 5

    5.2 Press the power button and volume down button simultaneously.

    5.3 On the command prompt, go to the ADB tools folder and type fastboot oem unlock

    5.4 Press the volume up button to accept the command and press power button to confirm.

6. Now, to install the image downloaded in the step 1, go to the unzipped file and executet the flash-all.bat file. The installation will begin and you are all set to be back with the Android Kitkat ....

Fir se thoda Kitkat break ho jaaye.... :)

Leverage federal structure for critical reforms

           If at all any reform which the current dispensation at the centre will find it difficult to roll out it is Labour Reforms. The centre will have to bear tremendous labour pains while introducing such reforms. But one good thing which has happened is, individual state governments are ready to tweak the labour reforms in their respective states as per their political will and risk appetite. Fortunately, in case of Rajasthan, the president too has given assent to the bill and new labour laws are applicable in the state. India has a decisive and strong PM, but India too needs decisive and action oriented chief ministers. The centre is a mere facilitator, while the actual implementation happens at the state level. Here is a good read from livemint, on how the federal structure of the county can be exploited for such contentious issues. Based on the political appetite of the state, laws can be changed and implemented well. This approach will at least encourage half of the states in the country to go for a change and overhaul in their policies, for growth can be achieve only in coordination with the state governments....

                              Labor Laws reform at state level

New subsidy regime | The HinduBusinessline opinion, a good read

The Centre has adopted a pragmatic approach to cooking gas subsidies

The reintroduction of the direct benefits transfer scheme for the supply of cooking gas, after its withdrawal in March this year, is a welcome signal that subsidy targeting is back on the policy agenda. Unlike its UPA avatar, cash transfers will now be based on LPG consumers providing their bank account numbers, rather than Aadhaar numbers, to distributors. The change in approach is a way of addressing the Supreme Court ruling in March prohibiting Aadhaar from being made compulsory in the implementation of welfare schemes. The Centre has also drawn up a scheme to make an advance deposit in bank accounts in an apparent bid to offset the hardship of coughing up the market rate that poorer customers may face while making their first purchase under the new scheme. Those without a unique identification number may switch to Aadhaar-based bank accounts once enrolled. The modified DBT scheme is a further indication that the Modi government will use Aadhaar as a vehicle for the delivery of benefits and subsidies. Already, 60 per cent of the population has an Aadhaar number and, hopefully, it is only a matter of time that such things as LPG distribution and other welfare programmes become UID-driven. The reservations expressed by the Home Ministry about a full roll-out of Aadhaar have been thankfully overcome.

The reasons for this pragmatism are not far to seek. Through better targeting, Aadhaar-based transfers can reduce subsidies by about ₹50,000 crore (about 20 per cent of the overall subsidy bill) without hurting the poor and needy. Of this, the saving on LPG subsidy, which ran up a bill of over ₹46,000 crore last year, could be between ₹6,500 and ₹10,000 crore. The LPG savings will result from bogus consumers being weeded out, a cap on the subsidy amount (most LPG users are middle-class and above, anyway) and conservation efforts, leading to lower imports. It is estimated that a quarter of the LPG connections in Karnataka and a fifth in Andhra Pradesh are bogus. The first round of DBT brought down the diversion of subsidised cylinders for commercial purposes: subsidised cylinders accounted for about three-fourth of total LPG usage last year, against four-fifths in 2011-12.

However, this is only the beginning. It is necessary to promote the shift away from inefficient cooking fuels such as firewood to LPG in rural areas. To this end, the subsidy should be gradually diverted from the well-to-do sections, who account for at least 60 per cent of all LPG users. The Jan Dhan scheme and post office network can come in handy. Above all, it is necessary to have foolproof systems. Consumers’ reservations over sharing their bank account number with their distributors — pointed out by the Dhande committee report on LPG reforms this May — should be addressed. The stakeholders should come up with credible solutions. We cannot afford a second derailment of DBT.

Source: TheHinduBusinessLine

All you wanted to know about Shale Oil

In an unexpected stroke of good luck for you, me and the country, the price of crude oil has fallen from $115 a barrel in June all the way down to $84. This has meant cheaper petrol and diesel, and a lower subsidy bill for the Government. One big factor responsible for this price fall is the unexpected increase in oil produced from shale in the US.

What is it?

Shale oil is essentially crude oil but an unconventional one at that. While the conventional fuel is usually found in porous rocks such as sandstone, shale oil is trapped in shale rock formations that are not easily permeable and hence is tougher to tap. So though its existence has been known for long, shale oil wasn’t being extracted in large quantities.

But technological advancements — horizontal drilling and fracturing (fracking) — introduced and honed since the early part of the century have enabled shale oil exploration and production on an industrial scale.

Most of the action in shale oil so far has been in the US where explorers have struck copious quantities of the black gold. It has not been smooth sailing though. Environmentalists and local communities have been up in arms against the pollution caused to land and water bodies by the chemicals used in the fracking process.

Nevertheless, shale oil produced in the country has grown by leaps and bounds over the years. So the dependence of the US — the largest oil consumer in the world — on imported crude oil has fallen sharply. And this has added to the weakness of global crude oil price in recent months.

Conventional crude oil producers such as Saudi Arabia have been cutting prices to maintain their market share and to drive some of the high cost shale oil producers out of action.

But whether this will have the desired effect remains to be seen — technological improvements are expected to push down the cost of shale oil production.

Also, while Saudi Arabia might have the financial muscle to sustain low prices for quite some time, other conventional producers such as Venezuela and Nigeria may likely find it difficult to hold out.

Why is it important?

Shale oil has the potential to be a massive game-changer in global energy supply and pricing — with enormous geopolitical implications. It’s not just the US; countries such as Russia, China and Argentina are also believed to have vast stores of shale oil. India too is taking baby steps to find and explore its shale assets potential.

Progress in other nations has been quite slow so far. But there’s no saying when the inflection point will be reached. If production continues to expand, countries such as the US could start exporting oil in a few years.

Why should I care?

For starters, more shale oil means lower petrol and diesel prices. So you spend less on travel.

Cheaper crude oil also reduces India’s current account deficit and subsidy bill and will also give a boost to the country’s GDP — that means more and better-paying jobs, and more profitable businesses. But shale oil production in India in the future could also mean more environmental challenges. So the right trade-off needs to be made.

Source: BusinessLine

Instant and Delayed gratification....

Gratification is an important aspect in human behaviour. Primarily it is instant gratification and delayed gratification. As humans we are always tempted to take decisions which suits us now, without thinking about its ramifications. It is not that this behaviour is prevalent only in teenage or early 30s, but repetitive thing. Looking back at your life retrospectively will help you understand what I am talking about. Think it this way – compare you and your parents and probably the coming generation too – our parents used to first earn money, then save it and then spend on whatever surplus they had. On the other hand, we first spend money and earn to payback the same and then save some if at all there is some surplus available. In a way our parents got delayed gratification. It’s important to realize that we give in more to instant gratification.This principle of instant and delayed gratification is applicable in all aspects of our life. Be it marriage, financial investment, career decisions etc. We need to win the war over instant gratification and need to envision what are the long term goals of our life. What is that we must to now, so that we reap a much better yield after 10-15 years? I am not a proponent of always being in the future and ruin your present, but having long term goals as well the attitude to safeguard your present will help your overcome this. I for one believe that we will have to find a middle path between instant and delayed gratification, because neither of them can keep us happy always. Its important that we don’t sink in to the marshland of debt and misery and neither do we ruin our present by over-thinking of the unforeseen future. Stay afloat is what I have learnt in life.In my subsequent blogs I will share more details on how I have lost and gained from either of these behaviours. Here I am sharing these articles which I came across and found then good leisurely reads:

Instant gratification costs in financial life -- Jagoinvestor

Delayed Gratification

Labor Reforms....

The Prime Minister’s assault on red tape can make a real difference

The much awaited labour reforms necessary for mass manufacturing in India were initiated by Prime Minister Modi on October 15. Any efforts to rationalise labour rules, around 250 of them at the Central and State levels, is a welcome step for industry.

The two key areas of reform are ‘unified labour and industrial portal’ and ‘labour inspection scheme’. Introduction of the labour identification number (LIN) and putting inspection on a unified portal will help bring transparency in the use of labour rules.

The Prime Minister’s efforts to raise the minimum wage ceiling from ₹6,500 to ₹15,000 and to ensure EPF and the pension scheme for vulnerable groups are also laudable.

Overall it’s the first big step that’s been taken at the Central level to reform one of the most complicated issues in the post-reforms era. However, much more needs to be done to put together a system that is not biased against either employers or employees.

Further, the system should create an environment for productive employment with reasonable safety nets.

It’s been well established that China’s flexible and business friendly labour laws have ensured continued investments in Chinese manufacturing, unlike in India where restrictive labour laws have been a cause of concern for investors. Though the Indian labour force has been much more disciplined and cooperative in the post-reforms period leading to a decrease in the number of strikes, lockouts, mandays lost and so on, the large number of labour rules and the process of enforcement by inspectors scares investors, at least on paper.

Restrictive approach

India’s labour laws are restrictive in nature and hurt investments in the manufacturing sector. The Industrial Disputes Act (1947) has rigid provisions such as compulsory and prior government approval in the case of layoffs, retrenchment and closure of industrial establishments employing more than 100 workers. This clause applies even when there is a good reason to shut shop, or worker productivity is seriously low.

The Contract Labour (Regulation and Abolition) Act (1970) states that if the job content or nature of work of employees needs to be changed, 21 days’ notice must be given. The changes also require the consent of the employees, and this can be tricky.

While the right of workers to associate is important, the Trade Union Act (1926) provides for the creation of trade unions where even outsiders can be office-bearers. This hurts investor faith and restricts economic growth.

Rigid labour laws discourage firms from trying to introduce new technology, requiring some workers to be retrenched. This deters FDI because of the fear that it would not be possible to dismiss unproductive workers or to downsize during a downturn. Hence getting FDI into export-oriented labour-intensive sectors in India has not been fully achieved.

In contrast, China has succeeded in attracting FDI to export-oriented labour-intensive manufacturing, in part because of flexible labour laws such as the contract labour system implemented in 1995. Whereas in India, employers have taken to hiring workers on contract outside the institutional and legislative ambit, resulting in informalisation of the labour market. This hampers worker well-being.

Reforms initiatives

To undo the malady in India’s labour market, some changes have recently been initiated in the three acts that largely govern India’s labour market: the Factories Act (1948), the Labour Laws Act (1988) and the Apprenticeship Act (1961). Amendments to some restrictive provisions of all these acts have been cleared by the Cabinet and are set to be tabled in Parliament. Key changes proposed include dropping the punitive clause that calls for the imprisonment of company directors who fail to implement the Apprenticeship Act of 1961.

The Government is also going to do away with a proposed amendment to the Act that would mandate employers to absorb at least half of its apprentices in regular jobs.

In order to provide flexibility to managers and employers, the amendment to the Factories Act includes doubling the provision of overtime from 50 hours a quarter to 100 hours in some cases and from 75 hours to 125 hours in others involving work of public interest. This is seen by some as being anti-labour as it imposes greater working hours without ensuring their security and welfare.

However, the penalty for violating the Act has been increased so as to deter exploitation. Increasing the working hours might also have to do with low worker productivity in India.

However, even as productivity issues should be addressed in part by bringing in quality FDI, it is important that maximum-hour protection is strictly enforced so as to prevent worker exploitation.

The norms for the employment of women in certain industry segments have been relaxed. The number of days that an employee needs to work to be eligible for benefits like leave with pay has been reduced to 90 from 240.

The amendments to Labour Laws Act, 1988 meanwhile, will allow companies to hire more people without having to fulfil weighty labour law requirements as it is proposed that companies with 10-40 employees will be exempt from having to furnish and file returns on various aspects. This will help avoid procedural delays, a feature of doing business in India.

Rajasthan shows the way

With the finance minister encouraging States to bring in appropriate labour reforms, Rajasthan has gone the Chinese way. Henceforth, it will be easier for firms there to adopt hire and fire policies. The Rajasthan government’s labour reforms are manifold. For one, industrial establishments employing up to 300 workers are now allowed to retrench employees without seeking the prior permission of the Government.

In addition, the threshold of the number of employees required for the purpose of applicability of the Factories Act has been increased from 10 to 20 (in electricity-powered factories) and from 20 to 40 (in factories without power). This is expected to reduce bureaucratic delays.

Finally, membership of 30 per cent of the total workforce needs to be recorded for a union to obtain recognition, up from 15 per cent, a move that will halt productivity losses out of politically motivated petty strikes.

The reality is that manufacturing has to grow to absorb millions of semi-skilled young Indians, a difficult task without rationalising labour reforms. Overall, it seems Modi is on the right track.

Source: BusinessLine

Solarizing the nation is the only way forward

This article is in continuation to my blog on policy making. Here I am listing a few goodreads about how the government is going ahead on solar policy. As I had mentioned earlier, India has the potential of about 400-700GW of solar energy. But a decent target of 50GW over 10 years can make wonders in this sector. On the one hand it is good idea to augment the solar capacity in India, but we need to keep in mind that most of the solar panels are imported, thereby adding to our import bill and a soaring CAD. India needs to substantially invest in R&D as far as solar energy is concerned, because this does not include any natural resource constraint. A lot of research is going on in the world on solar energy and India should take lead here in providing latest technologies and not just be a the receiving end. Its is my firm belief that a solarizing revolution can take us on the path of energy security in years to come. Below are a few reads which should convince us that the government is serious about it and is taking some steps.

Welcome push to solar

Small rooftop solar plants to create 3.25 lakh jobs in 10 years

Ministry targets 1 lakh MW from renewables in 5 years

Sun shines on solar stocks as Govt promises PSU order

Structural imbalance in Indian economy

         As per a newspaper report, India is poised to become a $2 trillion economy by FY15 even if it grows at 5%. The growth rate for Q1 FY15 has been 5.7% and the RBI estimated growth rate for FY15 is 5.5%. So we can be sure of crossing this milestone by March 2015. Psychologically, it is an important milestone to cross. However, if your dive into the numbers then you will find that the per capita income has not increased drastically. If you look at the chart below, several imbalances can be found in our economy. 

Although 50% of our population depends on agriculture, the share of agriculture is a meagre 18%. Services contribute a lot to our GDP, a whopping 50%. When Modi was the CM of Gujarat, he had trifurcated the economic structure on 3 pillars namely, Agriculture(33%), Services(33%) and Manufacturing(33%). The same model needs to be replicated at national level. Given the kind of human capital we have, liberalising the labour reforms, land acquisition and environment laws together can help the government raise the GDP by 2% in 3 years. All of these coupled with financial sector reforms, GST, augmented infrastructure capacity in terms in roads,freight corridors and ports can further help the government raise the GDP by 2%. The point I am trying to make is, focusing on the sectors which involve heavy manufacturing activities can help the government spread the base of the economy. For eg. there are about 15 cities where Metro rail projects are in several phases of execution. Currently, the tracts, via ducts, pre cast cement blocks, signalling system equipments and finally the trains, all are imported. Why can't we set a standard for all the trains, signalling system, pre cast ducts and indigenously produce them in our country? This will help in saving our import bill and simultaneously increase the manufacturing activity. Every job created in manufacturing sector creates 5 more direct and indirect jobs.Service sector is such a sector which can be sandwiched between Agriculture and Manufacturing, for both these sectors required IT support, marketing,advertisement and other allied activities. In next 3 years, the government needs to focus on labour liberalization and execution of those liberalized reforms coupled with financial sector reforms. This process will be excruciatingly painful and give a lot of labour pains, but in the end it will deliver a beautiful baby... 

Image Source: Livemint

Your mate probably doesn't go to work with you, but his or her influence does.

This article exactly summarizes my thought process. No matter how intelligent you are, or how hardworking you are; your success will depend upon how your life partner is. You might buy an expensive car, a big house with all modern amenities, but your happiness will only depend on how your partner is.....  I just wonder why this guy had to do a Ph.D to do this analysis.. :P

Nevertheless, a good read to share:

________________________________________________________________

          “Your husband, wife, or sweetheart probably doesn’t come to work with you every day,” says Brittany Solomon. “But his or her influence clearly does.”

Solomon, a Ph.D. candidate in psychology at Washington University in St. Louis, recently led a study analyzing the careers and personalities of about 5,000 married people, aged 19 to 89, over a five-year period. About 75% were in two-career couples.

The conclusion: Employees of both sexes who scored highest on three measures of occupational success—salary increases, promotions, and job satisfaction—all went home at night to mates with the personality type known as “conscientious.” These are people who are reliable, consistent, detail-oriented, and organized. The study, “The Long Reach of One’s Spouse: Spousal Personality Influences Occupational Success,” will be published in a forthcoming issue of the journal Psychological Science.

Note to singles: If you’re aiming high at work, you might want to settle down with someone conscientious. Psychologists often categorize people according to four other broad measures: openness, extraversion, agreeableness, and neuroticism. Although previous studies show that “people tend to look for a potential mate with a high degree of agreeableness and low neuroticism, our findings suggest that anyone with ambitious career goals would be better off looking for a supportive partner with a highly conscientious personality,” Solomon notes.

          A mate’s conscientiousness boosts career success in three ways, the study found. First is what the researchers call “outsourcing,” which means it’s a lot easier to concentrate on your next brilliant idea at work if someone else can be counted on to make sure the dog has all his shots, the car gets inspected on time, and the kids are fed. Also, the ability to depend on a significant other cuts down on overall stress and makes work-life balance easier to manage, for men and women alike.But beyond the day-to-day practicalities, a conscientious partner exerts a subtler, more pervasive influence. “Conscientious people tend to be resilient in the face of setbacks, and they’re thorough. They finish what they start,” says Solomon. “Over time, those traits can rub off on a spouse. People often unconsciously emulate those they live with—and the qualities we associate with ‘conscientious’ types are the same ones that lead to success in a career.”

Source: Entrepeneur

LIC Jeevan Rekha T.No.52

         One of the common topics related to the investment in 80C is LIC policies. There are various investment options available like PPF, NSC bonds, EPS and other govt securities. But insurance is an instrument which provides you and your family a contingency cover. My dad enrolled my for a LIC policy namely LIC Jeevan Rekha T No 52 in the year 2006. Since last 4 years I am paying the premiums and I used to crib upon paying a lot of premium on insurance policies. Recently I tried to understand what my policy is all about and is it really worth it investing so much in it.

In case of Jeevan Rekha, the minimum age of entry for this policy is 13 years completed while the maximum age is 65 years. The single premium paying terms available are 5,10,15,20 and 25 years and premiums payable for life.

The minimum sum assured is Rs 2 lakh and thereafter in multiples of Rs 10,000.The survival benefits equivalent to 10% of the basic sum assured are paid out to the life assured on survival after every five years from the date of commencement of the policy. For a 20-year term, 20%, 20%, 20% and 40% of the sum assured are paid out in the fifth , 10th, 15th and 20th year respectively. The policy matures on the death of the policy holder whereby the sum assured along with vested bonuses are payable, irrespective of survival benefits paid already. Also, if the policyholder survives till 85 years of age(which I would certainly looking at the lifeline on my palm), he would receive 100% of the assured sum - with bonus. Hence, if the policyholder lives till 85 years of age, he effectively receives 200% of the assured sum including the money paid back during the premium term.

Now my sum assured is Rs 10,00,000. The policy term is 15 years. I pay a premium of 46,700 every year. Every 5 years I would get Rs 1,00,000.The LIC India website public disclosure says that a bonus of 44Rs/1000/year has been declared on an average for this policy. Which means the vested bonus for last 8 years should be around Rs 3,52,000. Assuming the same blended average for next 7 years, the bonus amount on maturity should be Rs 6,60,000. So at the time of maturity I should be getting Rs 10,00,000 (Sum Assured) + Rs 6,60,000 + loyalty bonus if it is declared at that time = Rs 16,60,000(+ 3,00,000 which I had already received every 5th consecutive year). And thereafter maturity I will receive 1,00,000 every 5 years till the age of 85. So I am waiting for 2021, to get a big fat cheque which I would have never received otherwise.. :P

So the highlight of these policies is that they offer you both regular returns all through the term along with a lifelong cover. Thus, they not only provide for your financial needs at every stage of your life, but also ensure the security of the family in case of death.

__________________________________________________________________________
P.S: This policy is no longer available for sale, so do not take it as an endorsement or advertisement initiative. This is just an analysis I did for myself and thought of publishing it on my blog.

Lessons of life....

It’s been more than 5 years now that I am out of college. I always tell my friends that 22nd year is the best year of your life. It is because you are just out of your college and probably you are just into your new job. There are no high expectations at office nor are you answerable to anybody for your studies, expenses, for the time you spend. To say the least you really do not have any responsibility on you. But the situation changes fast as you grow. I personally feel that I have changed a lot in last 5 years. In our instant gratification culture, it's easy to forget that most personal change does not occur as a single static event in time, but rather as a long, gradual evolution where we're hardly aware of it as its happening. We wake up one day and suddenly notice wild, life-altering changes in ourselves. Our identities slowly shift, like sea sand getting pushed around by the ocean, slowly accumulating into new contours and forms over the passage of time.It's only when we stop years or decades later and look back that we can notice all of the dramatic changes that have taken place. Last few years were certainly dramatic, but here are 3 lessons I have learnt hard:

1.Fail early and often: Time is the only asset you have.

When you are young, your greatest asset is not your talent, not your ideas, not your experience, but your time. Time grants you the opportunity to take big risks and make big mistakes. I started investing in stock markets in the beginning of my career. A little more lust for money tempted me to put all the eggs in one basket and play bigger games in derivatives. Eventually I lost all my money but I learnt my lessons hard. I still thank God that I lost it all at a very young age when I had no responsibilities on me and neither was I answerable to anyone. Moreover, you aren't strapped by all of the financial responsibilities that come with later adulthood: mortgage payments, car payments, daycare for your kids, life insurance and so on. This is the time in your life where you have the least amount to lose by taking some long-shot risks, so you should take them. Nevertheless, it thought me the value of money and I learnt basic investing lessons by losing.

2.You can’t force friendships.

There are two types of friends in life: the kind that when you go away for a long time and come back, it feels like nothing's changed, and the kind that when you go away for a long time and come back, it feels like everything's changed. I am out of home since 11 years now. I have stayed at Aurangabad, Mysore, Hyderabad, Pune and of course my home town, Hingoli. That means I have left a lot of friends behind in various places. What I have learnt is you cannot force friendship with anyone. You might have very good friends in college or probably in your early career when you are single, but it is the truth of life that times change, people change, responsibilities do come in their way and slowly you lose keeping in touch with many of them. It’s not that those people whom you didn’t keep contact with were bad people or bad friends, just that life becomes too busy. It’s nobody’s fault. We have to reconcile and resign to the fact that life change, people change and so do their and your own priorities. What happened in your late teenage might not happen in your late 20s and early 30s. Those cacophonous fantasies and activities eventually fade out.

3.The sum of small things matters much more than bigger things.

We have a propensity to assume things just happen as they are. We tend to only visualize the result of things and not the arduous process (and all of the failures) that would go into producing the result. I think when we're young, we have this idea that we have to do just this one big thing that is going to completely change the world, top to bottom. I have faced such situation prominently at office, when I see seniors around me who are well settled, have a good home, a big car and spend lavishly on their lifestyle. And this is the phase when you too want exactly same things in your life and you start dreaming big. That’s a good thing btw. But we need to realize that those "big things" are actually comprised of hundreds and thousands of daily small things that must be silently and unceremoniously maintained over long periods of time with little fanfare.

Why the BJP should dump the sena.

In India, like in any other place, political alliances endure because of personalities. This is a truism but worth repeating nevertheless and is especially important as we watch the shenanigans of the Sena-BJP before the Maharashtra electoral battle. The Sena-BJP alliance was forged in the 1980s when Lal Krishna Advani headed the BJP and Balasaheb Thackeray ruled unchallenged from Matoshree. The two hard core nationalists saw a lot of benefits in a tie-up. The Sena had a strong base in Mumbai, Thane, and could boost the BJP which was readying itself to play a major role at the centre.

To say that the alliance is at the crossroads is stating the obvious but what has also become increasingly obvious is that the alliance partners have almost reached the point of no return. Changing priorities, shifting demographics and a radically altered political landscape are making it extremely difficult for the Sena-BJP to function together as a cohesive political force. Media reports have portrayed it as a clash of egos but it is not just that. The differences between the two parties have widened especially after the Modi-led BJP set about transforming itself from a party of religious zealots and trigger-happy nationalists into a mature, inclusive, development-oriented modern party.

Gone are the days when parties could win power solely based on appeals to ethnic, religious and linguistic causes. Changing demographics means that every party now has to tailor and customise its message to appeal to a burgeoning young population. Women, who played a marginal or passive role in past elections are now becoming an increasingly important force. The BJP realised this a long time back and it could be said that the Modi’s emergence as a prime ministerial candidate was largely driven by the realisation that there was no other leader within the party who could appeal to this young generation. This is not the case with Sena. It continues to stick to the past, having anointed Balasaheb’s son Uddhav as the leader after the patriarch’s death. It continues to shun modernisation and change its ideology to better reflect the aspirations of new and young voters. The decimation of the old guard and tight control exercised by the family means that the Sena bench is practically non-existent.

Tuesday’s agreement, coming after weeks of hard-nosed and bitter haggling may help the alliance regain power (if it stands) but the fighting and the hand-wringing is one more example of how far the alliance partners have drifted apart.

I would actually argue that the BJP is better off without the Sena. This is because the larger issues and problems within the Sena cannot be ignored any longer. Its governance record is extremely patchy and the absence of top-quality leaders, an effective second-rung makes the party entirely dependant on the Thackerays. This was not a problem as long as the Sena was winning elections and attracting talent. Suresh Prabhu, one of the party’s brightest minds has been sidelined; so is Manohar Joshi, the first Sena-BJP chief minister. After the departure of Raj and the death of Balasaheb Thackeray, the party does not have a popular vote getter either.

There is another reason too. So far, the party has fared poorly in states where it is the junior partner in government. Just look at Punjab. States where it is the sole party in power have been different. Despite criticism and brickbats (some of which is probably well deserved), Shivraj Singh Chouhan and Raman Singh have provided reasonably effective governance. It can be said that the BJP often struggles to establish itself and is unable to control its ally in an alliance where it is the junior partner.

The problem with the Sena is that it has nothing to show for in terms of governance or achievements despite controlling the country’s biggest civic body for more than two decades. Mumbai as a city does not have a problem with basic services like water and electricity but infrastructure continues to be poor and the quality of roads is pathetic. The BMC collects a lot of taxes but very little flows back into city development.

In fact, the BMC example should be warning to all those who think that the BJP should stick with its alliance and that Sena could provide effective governance. The last thing the party of Modi wants is to be hobbled by a party disinterested in development in a large and important state like Maharashtra.

The third and the most important reason is this. The alliance has endured for so long largely because of Balasaheb and Advani. But as we look back at the last two-and-a-half decades, it is hard to miss the point that the alliance has overpromised and underperformed. It missed a great opportunity to make a mark at the state-level after the 1995 elections. Widespread corruption, an inept administration widely perceived as powerless and toothless drove voters into giving the reins of the state back to the Congress, five years after it lost power in the state for the second time since independence.

Of course, breaking with long-standing partner is difficult and could end in electoral tragedy if not handled well. Sometimes it is better to be discreet than valorous and the BJP probably realised that dumping the decades-old alliance partner this time around may well cost it the state, something it cannot afford after a string of bypoll defeats. That is a fair call to make.

But they should use this opportunity to build a support base in weaker regions of the state so that they are well prepared for a final break if and when it comes.

Source: Economic Times blogs.

Indo-Japan Relationship

Even before Narendra Modi became prime minister, he has had 2 visits to Japan in his capacity as Chief Minister. Of all its investments in India, Japan has highest investment in Gujarat. The new smart city plan in Dholera, Gujarat is going to be a home for all Japanese investments in the state. I remember having a very casual discussion with one of my managers at Oracle in early 2014, about what would be diplomatic ramifications of Narendra Modi as prime minister; and I had then told that the biggest beneficiary of his foreign policy would be Japan. Having said that, his recent trip to Japan has been a phenomenal success which even his staunchest critics have had to agree. If he gets the same momentum going, then I think India shall rise and the LION will gain enough strength to stand up to the DRAGON. 

Below is one of the article which I recently read on The Diplomat, on Indo Japan relations and its ramifications on Indo-Sino relations and how he needs to do a balancing act, keeping "MindPeace" ..... :)

________________________________________________________________

If photo-ops are considered to be vital part of conveying messages in diplomacy then the image of India’s Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe hugging each other last week should go down as a defining moment in India-Japan relations. Traditionally, the Japanese are not known to be demonstrative or even to encourage physical contact but if the enthusiastic reception accorded to Modi during his five-day trip to Japan – his first bilateral trip outside the Indian sub-continent – is any indication, New Delhi and Tokyo are all set to transform geo-politics in Asia.

The two prime ministers, also close personal friends, not only discussed a wide range of bilateral issues during an unusually long trip but also worked towards building a counterweight to an increasingly assertive China. Although the only reference – and an oblique one at that – to China came from Modi, the joint statement was dominated by plans to cooperate on security issues that will have far-reaching implications in Asia. “Everywhere around us, we see an 18th-century expansionist mind-set: encroaching on another country, intruding in others’ waters, invading other countries and capturing territory,” Modi told his Japanese audience without mentioning China.

Even the joint statement by the two countries spoke about regional tensions and steps that they intend to take to control the situation. It said, in parts: “The two Prime Ministers affirmed their shared belief that at a time of growing turmoil, tensions and transitions in the world, a closer and stronger strategic partnership between India and Japan is indispensable for a prosperous future for their two countries and for advancing peace, stability and prosperity in the world, in particular, in the inter-connected Asia, Pacific and Indian Ocean Regions. Prime Minister Abe briefed Prime Minister Modi on Japan’s policy of ‘Proactive Contribution to Peace’ and Japan’s Cabinet Decision on development of seamless security legislation. Prime Minister Modi supported Japan’s initiative to contribute to peace and stability of the region and the world.”

The joint statement was labeled “Tokyo Declaration for India – Japan Special Strategic and Global Partnership,” a fact that would not have gone unnoticed in Beijing. While the fine print of various agreements will be known in due course, the larger message of Modi’s visit is loud and clear: For the first time India is willing to throw its lot in with Japan, a known U.S. ally. So far, New Delhi has refrained from an overt alliance with the U.S. but it has accepted a need to have closer defense cooperation with both Tokyo and Washington. One early manifestation of this was the recent trilateral naval cooperation Exercise Malabar held off the Japan coast in June. This was a significant departure from the recent past. Since 2007, Japan had kept away from Exercise Malabar after Beijing had protested in the wake of a five-nation exercise in the Indian Ocean. But under Abe’s leadership, Japan is turning many of its defensive policies on their head. The easing of Japan’s defense exports rules will allow Japanese defense firms to participate in India’s huge weapons market. An amphibious military aircraft is likely to be one of the first exports to India. A civil nuclear deal is also progressing well, although much against Modi’s wishes it could not be clinched during his visit. However, Japan’s commitment to invest around $34 billion in India’s key infrastructure projects over the next five years will boost the India-Japan partnership further.

Officially, there was no reaction by China but Modi’s breakthrough visit was certainly keenly watched in Chinese official media, where it drew some pointed comment. Global Times, the hardline voice of the Chinese establishment in China had two strident back-to-back editorials on the Modi-Abe tango. In the first, the paper commented: “The increasing intimacy between Tokyo and New Delhi will bring at most psychological comfort to the two countries. What is involved in China-India relations denotes much more than the display of the blossoming personal friendship between Modi and Abe. After all, Japan is located far from India. Abe’s harangue on the Indo-Pacific concept makes Indians comfortable. It is South Asia where New Delhi has to make its presence felt. However, China is a neighbour it can’t move away from. Sino-Indian ties can in no way be counterbalanced by the Japan-India friendship.” The second one attacked Japan directly in an editorial titled, ‘Tokyo lost the war, and must accept defeat,’ threatening Japan openly: “What we need is a rational Japan that behaves itself and stops serving as a pawn of the US to sabotage China’s strategic interests. We need to crush Japan’s will to constrain a rising Beijing and only in this way can Sino-Japanese friendship garner a fresh, solid foundation.”

It is instructive to note that Chinese criticism so far is muted as far as India is concerned. The reason is clear. In less than a fortnight after Modi ended his successful Japan trip, Chinese President Xi Jingping is expected in India. Xi has an ambitious agenda for his visit. China wants to take full advantage of a pro-business regime under the new prime minister and raise bilateral trade beyond 100 billion dollars. Economic partnerships apart, China would want to keep its negotiations on the contentious border issue going, if only to keep India interested since India is now being wooed by the world. The U.S. has already sent three of its cabinet secretaries to India, all before Modi has even visited America. That visit is due in late September, where he will hold a summit meeting with President Barack Obama. Clearly, Washington wants to reboot ties with New Delhi after a downslide in relationship over the past four years. Australian Prime Minister Tony Abbott has left for Mumbai and New Delhi, and is expecting to sign a deal to supply uranium to India. Canberra has already indicated it wants much closer defense cooperation with India.

Modi’s foreign minister Sushma Swaraj has toured Vietnam – one of several of China’s neighbors that have territorial disputes with Beijing – and Bangladesh to re-establish India’s primacy in the region. The prime minister has himself decided to reach out to smaller but important nations in the Indian sub-continent by visiting Bhutan and Nepal, the two Himalayan countries wedged between India and China. His decision to call off talks with Pakistan also shows he is prepared to make a departure from conventional practice. Clearly, Modi is the international flavor of the season. His challenge will, however, be to balance competing interests between the U.S., Japan and China even as he pursues an independent Indian foreign policy based on national interest.

One Idiot

Here is  a small 30 minutes movie called “One Idiot“, by IDFC foundation, released to spread financial literacy for today’s generation which feels that life is all about spending and looking “cool”. The movie is directed by Amol Gupte, who had also directed the movie “Taare Zameen Par”. The movie ‘One Idiot’, shows how a bunch of students who are in their early 20’s make fun of a guy who looks dumb and does not believe in showing off, only to find out later one day that he is actually a multi millionaire, living and enjoying his life. The overall message of the movie is that you have to be prudent and responsible when it comes to money and start your systematic investments however small they are and over a long term, you will be on path of financial freedom.

Direct Link

Overall I think you should watch this movie and also share it with your children who are in school and going to enter their working life.

Interlinking rivers in India

The articles which I am sharing are part of my Political and Economic thinking. I came across an article in The Hindu Business-line, the news paper which I follow exclusively for policy making literature.

_________________________________________________________

“Atalji's dream of linking rivers is our dream as well. This can strengthen the efforts of our hardworking farmers,” tweeted Narendra Modi soon after an election campaign speech in Bihar in April.

The river linking project, which the National Water Development Agency (NWDA) calls inter-basin transfer of water, is designed to ease water shortages in western and southern India, while mitigating the impact of recurrent floods in the eastern parts of the Ganga basin.

“One of the most effective ways to increase the irrigation potential to improve foodgrain production, mitigate floods and droughts and reduce regional imbalances in the availability of water is the Inter Basin Water Transfer from surplus rivers to deficit areas. The Brahmaputra and the Ganga, particularly their northern tributaries; the Mahanadi, the Godavari, and the west-flowing rivers originating from the Western Ghats are found to be surplus in water resources,” NWDA says on its Website.

At its completion, the country will have 30 river links, 3,000 storage structures, a canal network stretching almost 15,000 km and can generate 34 GW of hydroelectric power, create some 87 million acres of irrigated land, and transfer 174 trillion litres of water a year. The initial cost of the project is estimated to be at ₹5.6 lakh crore, while around 580,000 people face the threat of displacement.

The plan

Under the National Perspective Plan (NPP) prepared by the Ministry of Water Resources, the NWDA has identified 14 links under the Himalayan Component and 16 links under the Peninsular Rivers Component. Out of these, feasibility reports for 14 links under the Peninsular Component and two links under the Himalayan Component have been prepared.

According to the NPP, the Himalayan Rivers Development Project envisages construction of storage reservoirs on the main Ganga and the Brahmaputra and their principal tributaries in India and Nepal, along with an inter-linking canal system to transfer surplus flow of the eastern tributaries of the Ganga to the West. It will also link the main Brahmaputra with the Ganga.

The Peninsular Rivers Development Component is divided into four major parts: interlinking of Mahanadi-Godavari-Krishna-Cauvery rivers and building storages at potential sites in these basins, interlinking West-flowing rivers north of Mumbai and south of the Tapi, interlinking of Ken-Chambal, and diversion of other West-flowing rivers. 

Bringing States on board

To implement the project successfully, the Government will have to convince States to come on board, as water is a State subject.

Andhra Pradesh, Chhattisgarh, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Odisha, Puducherry, Rajasthan, Tamil Nadu and Uttar Pradesh are the major States to benefit from the project. Several States have supported the plan, while some others have raised concerns. Chief Ministers of both Andhra Pradesh and Tamil Nadu have been urging the Centre to take up the 14 links under the peninsular component. Kerala, however, is worried about the proposed Pamba-Achankovil-Vaippar link.

The first steps

One of the initial tasks before the Government is to address the Supreme Court verdict of February 2014 on the interlinking of rivers. The court had directed the Government to create an appropriate body to plan, construct, and implement the massive project, starting with the Ken-Betwa link.

The two phases of the Ken-Betwa link project, involving Madhya Pradesh and Uttar Pradesh, are estimated to cost ₹11,676 crore. A detailed project report for both the phases has been submitted to the two State Governments. According to this report, a total of 11,723 ha of land could be submerged if this project is executed. This includes more than 5,000 ha of forest land belonging to the Panna Tiger Reserve. It will also affect 10,163 people belonging to 2,529 families in 22 villages.

“Together, both the phases of the Ken-Betwa Link project envisage 7.35 lakh ha of irrigation, 78 MW of hydropower and would provide drinking water to 15.07 lakh people,” said S Masood Husain, Director-General, NWDA. Other priority links are Parbati-Kalisindh-Chambal, Damanganga-Pinjal, Par-Tapi-Narmada, and Godavari (Polavaram)-Krishna (Vijayawada).

Of these, the detailed report for the Damanganga-Pinjal link is ready with the Centre. The report has already been submitted to the Governments of Maharashtra and Gujarat. “If implemented, this project can address Mumbai’s water problem to a great extent at least till 2040,” Husain added.

The downside to linking

However, the projects have already invited criticism from various political parties. In fact, those who were evicted for the construction of the Bhakra and the Pong dams, two of the oldest in India, have still not been fully rehabilitated.

“Environmentalists, hydrologists and economists around the world have expressed deep concerns at the irreversible damage that this sort of a mega project can do to the country’s environment and our water resources. Massive civil works will be involved, lakhs of people will be uprooted and vast sums of money will be required,” Congress leader and MP Karan Singh said.

The CPI (M) has also questioned the move. The party’s MP KN Balagopal said the Central Government’s plan is politically-motivated, giving the example of theParambikkulam-Aliayar project (in Kerala).” Farmers of Palakkad district have to hold protests during the crop season to get water from the project released. The proposed Pamba-Achankovil-Vaippar link will be a disaster for a riparian zone like Kerala, he says.

Failed attempts

The Government defends the project, saying the idea of river-linking is not new in India. In 1972, then Union Irrigation Minister KL Rao mooted the first major proposal to interlink the water basins. The 2,640-km-long Ganga-Cauvery link was the main component in the proposal. But Rao’s estimate of ₹12,500 crore was considered “grossly under-estimated and economically prohibitive.” In 1977, during the Moraji Desai Government, Captain Dinshaw J Dastur, an engineer, proposed the construction of two canals – the first for the Himalayan rivers and the second to cover the central and southern parts. A host of experts opined that his project was infeasible.

However, both the Government and the NWDA are now confident of implementing the project at the national level. The NWDA lists a number of initiatives such as the Periyar Project, the Parambikulam-Aliyar, Kurnool-Cudappah Canal, the Telugu Ganga Project, and the Ravi-Beas-Sutlej-Indira Gandhi Nahar Project as examples of successful execution of river linking.

“If we can build storage reservoirs on these (surplus) rivers and connect them to other parts of the country, regional imbalances could be reduced significantly and lot of benefits by way of additional irrigation, domestic and industrial water supply, hydropower generation, and navigational facilities would accrue,” it adds.