Welcome to RMCTalks – A Weekly Newsletter
5 Short Stories of the Week
M: Un-sold housing inventory in Noida reduces by 27%
T: Toxic air chokes Delhi’s tourism business
W: FM Nirmala Seetharaman provides Rs.25K Crore real estate fund
T: Softbank’s Masayoshi Son becomes poorer by $6 Billion by betting on WeWork and Uber
F: Puri’s Jagannath temple owns 60K acre of land, 15-times the town’s size
• • •
Explained: Why Infrastructure Projects Are Getting Delayed?
Image Source: Raconteur
As per the report by the Ministry of Statistics, more than 800 infra projects have a cost overrun of Rs.3.5 Lakh Crore. Besides, more than 500 projects have been delayed due to time escalation. The original cost of implementation? Rs.19.5 Lakh Crore. Whereas, the anticipated completion cost is likely to be Rs.23 Lakh Crore in the future.
Let’s understand the bottlenecks.
- Delays in Land Acquisition: In the case of infra projects, the land requirements are linear in nature. These are not confined to a particular area. Many times, the requirements spread across the states, districts, cities, and towns. And thus turn out to be one of the key reasons.
- Naxal-hit Areas: Naxalites and other terror outfits have terrorized the project owners. Reason? To generate a parallel economy to run their illegal and illicit operations. Many contractors, who are part of infra projects, tend to shell out tons of money as extortion money. In case they reject, the operations stall in between due to bloodshed. And become a major reason for the delays.
- Supply of Equipment: Sometimes, cash strapped vendors run out of business during the midway. As a result, the delivery at a stipulated timeline affects the overall continuation of the project.
- Licensing Problems, Pending Court Cases, and Labor Union Issues are few others.
• • •
How to Stay in Touch with People?
In an era of touchphones, we are losing touch with our own people. Hectic working hours. Personal life commitments. Change in priorities. These are a few of the reasons that we all get to hear. As a consequence, we not only lose touch with them but also an opportunity to discuss excellent ideas.
I believe, we must always stay connected to people around us. How?
Well, divide them into 3 groups:
Group A: Call, Message or Meet them every 3-4 Weeks
Group B: Every 2-3 Months
Group C: Every 6-12 Months
Wish them on Birthdays, Anniversaries, and Festivals.
Don’t ask for a favor. Just stay on their minds. And observe how much difference does it make.
• • •
A 15-Seconds Condensed Course on Ayodhya Verdict
Image Source: News18
1528: Babar orders his commander Mir Baqi to construct Masjid at the birthplace of Lord Ram (as per Hindus)
1858: First FIR against Nihang Sikhs who performed Pooja, Havan and wrote “Ram” inside the Mosque
1885: Mahant Raghubir Das files suit in Faizabad court to build Ram Temple; suit dismissed
1949: Ram idols found inside the Mosque. Both parties file civil suits. Termed as a disputed area, the gates are locked
1959: Claimed to be a custodian of the site, Nirmohi Akhara files 3rd suit
1961: Sunni Waqf Board moves in to claim possession of the site
1983: Togadia led VHP starts a nationwide movement for the construction of Ram Temple
1990: LK Advani starts Rath Yatra from Somnath to Ayodhya. Hundreds of Karsevaks killed in a clash with UP Police
1992: Supporters of VHP, Shiv Sena and BJP demolish the structure
2002: Allahabad HC begins hearings to conclude who really owns the site
2010: Allahabad HC verdict is out! Land to be divided equally among Hindu Mahasabha, Sunni Waqf Board and Nirmohi Akhara
2019: SC constitutes a Mediation panel
6th August 2019: After the failure of Mediation panel, a 5-judge bench headed by CJI Ranjan Gogoi starts the hearing process
9th November 2019: The final verdict is out after 70 long years. In a unanimous decision, the bench orders the construction of Ram Temple at Ayodhya and allots 5-acres to Muslims to build the Mosque
• • •
Tweet: How to Achieve Financial Independence
• • •
3 Weekend Reads
Spend less than you earn. Avoid debt. Don’t buy a home until you have financial freedom. Learn to appreciate the advantages of a debt-free life.
It is not enough to think about difficult problems in one way. You need to think about them forwards and backward. Inversion often forces you to uncover hidden beliefs about the problem you are trying to solve.
Most non-banking finance companies are negotiating choppy waters in the aftermath of the IL&FS crisis. One thing certain is that the road ahead will not be the same as the road left behind. Here’s how to deal with it.
That’s all, my friends. Have a lovely week ahead 🙂
Cover Image: Aicha El Beloui
Dhruv Girdhar | RichifyMeClub
• • •