THE DIARY OF Z

Finance minister P Chidambaram’s budget has been pro-farmers and pro-middle class. But what do businessfolks think about it? Well, they say it’s a mixed bag. And how?
Read on…

Alok Ohrie, Managing Director, AMD India

Ø  I would like to congratulate the FM for coming out with a budget that strengthens our overall economy and especially its two foundation pillars - agriculture and education. Higher education has received its rightful importance in this year’s budget.  The decision to set up three more IITs, national knowledge centers, two more Indian Institutes of Science Education and Research and scholarships for science education are extremely relevant measures to grow the talent pool.  These initiatives will play a critical role in preparing and encouraging graduates who will take the high technology sectors to the next level of excellence.  

Ø  AMD has set up two more R&D centers in Bangalore and Hyderabad. The setting up of these development centers has helped the Indian PC and Hardware market. AMD has partnered with several state Governments for Rural development programs. We see this as a step ahead to take India to the next line of growth.

Ø  The exemption of specified raw materials for use in the IT and electronic hardware industry from customs duty is a positive sign. Technology advancements will fuel converged devices for the well informed on-the-move consumer.  The reduction in the duty on converged products is a timely step to keep the country on par with global technology developments.

R G Chandramogan, MD, Hatsun Agro

Ø  Personal Income tax concession is a welcome announcement which is a benefit to our employees.

Ø  A waiver of Rs 60,000 Cr towards an agricultural loan was done in this budget.  If only the Government had invested Rs 6000 Crores towards educating the farmers on optimal utilization of available resources and train them with simple tools to effectively reduce the cost  it would have helped them profitably and also saved the banks from the waiver.

Ø   Soil testing lab subsidy is a welcome programme and will also help the farmer in understanding the importance of soil management.

Ø  Nutrition based subsidy is the most logical step in the right direction.

Ø  Removal of import duty on bactofuge will lead to better quality milk processing in the years to come.

Monisha Advani, Managing Director, EmmayHR

Ø  This budget demonstrates economic prudence and caution. By focusing on relief and development to the agriculture sector, a clear message is being sent – the year of the Kissan (farmer) is back. Also, if a cross section of the budget were to be analyzed, the clear beneficiary is the common man, who will find it easier to come by medical relief and support, in a small or hybrid car that he will own and pay off loans that he received on the back of the subsidized education he received, thanks to the budget presented by this government.

Ø  Interesting to see pharmaceutical and healthcare receive impetus in the form of excise duty relief and incentive to research.

Ø  Overall, am personally pleased to see a budget assuming accountability towards the manufacturing sector. We have spent a decade bolstering the service sector and rightly so. It has yielded rich dividends in contributing to the GDP and increasing employment opportunities. However, the manufacturing sector is the foundation of our economy, as much as agriculture, and it deserves renewed incentive to grow to competitive levels. While I expect the suggested subsidies to increase employment, I would have expected the education budget to be aimed towards cultivating talent for this sector to be more vocalized, than is the case. Creation of jobs needs to be balanced with development of talent.

Ø  On income tax – no path-breaking change. On indirect and corporate tax – relieved that there hasn’t been incremental ambitions. On fringe-benefits – I maintain that the finance minister needs to reflect on what tools he equips employers to retain workforces, which will aid medium and long term value and wealth creation for the economy. FBT is a contrary action that deters employers for disbursing traditionally lock-in benefits for fear of impact.

Rajeshwar Balasundaram, COO Global Adjustments

Ø   This budget is clearly investor friendly and should improve the quality of the business environment in India, with the duty cuts and investments in infrastructure that have been announced. Consequently, we can only see an increase in global interest in India that will lead to more foreign direct investment and its collateral benefits to the economy.

Srinivas Rao, CFO, Perot Systems

Ø  There is a lot of attention being given to education in this budget. FM wants to develop India as a Knowledge Society. Rs.100 crores to be given to IT Ministry for knowledge centers, new IITs, Navodaya Vidyalaya’s, large allocation to the Sarva Siksha Abhiyan, Bharat Nirman schemes are all way to go. Education budget going up from 28k crores to 34k crores is all way to go that will invest in the long term sustained potential of the country in addressing resource availability and some of the current challenges of the country.

Ø  Agriculture also clearly seems like the big focus area in the years to come. A huge outlay for credit to the agricultural segment. Big write offs in the region of about Rs 60000 crores in terms of farmers debt to help distressed farmers. Though it is being viewed as a populist measure by the stock markets and the industry, this should inject a renewed energy into the agricultural segment who seemed to have been behind in the growth.

Ø  Corporate taxes remaining unchanged would not be a relief to the export industry especially the IT and ITES segment that’s been hit by the rupee appreciation and tax holiday going away in year 2009. There was a lot of expectation around this front. This will continue to challenge the IT and ITES industry which has been a major export earner and the driver for the country’s growth.

K Ganesh, Founder & CEO, TutorVista.com

Ø  We welcome the thrust on education in this year’s budget.

Ø  We will have more talent in the area of science and technology with the addition of technical institutions such as the IITs and IISc. 

Ø  IT infrastructure in rural districts will get a boost with the grant provided for broadband centers. It would have been good to see specific allocation to ensure these Rs 34,600 crores are actually spent correctly without leakage of funds. So, earmarking a small percentage for auditing and monitoring would be prudent.

Ø  The thrust in building high quality schools i.e. 6000 by FY 09 is laudable. Infrastructure in schools is very poor and this will address the concern. Also, mid-day meal allocation being increased will directly contribute to lowering drop out rates and is welcome.

Kris Gopalakrishnan, CEO and MD, Infosys Technologies Ltd

Ø  Overall economic growth has averaged 8.8% in the last four years. GDP growth rate for the year is estimated at 8.7% with services leading the growth at 10.7% and manufacturing growing by 9.4%. Tax revenues have been extremely buoyant, increasing to 12.5% of GDP, fiscal deficit is down to 2.5% next year with revenue deficit at 1% of GDP. The economy is on a roll. This has allowed the Finance Minister to make significant investments in agriculture, education and social sectors. However, we see inadequate allocation for higher education once again.

Ø  In terms of direct taxes the Finance Minister has given significant relief. This will help corporate India reduce wage inflation. Excise duty has been reduced across the board and coupled with the reduction in direct taxes, consumption and production should increase significantly, boosting growth.

Ø  The budget has not been positive for the IT industry. Smaller companies should have been given tax relief in this budget to counter the impact of a sharply appreciated rupee. The increase in excise duty for packaged software will lead to increased piracy.

Comforting lounge bars, theme-based pubs, international schools, designer retail brands, eclectic coffee shops and a variety of new-age spiritual centres, have all transformed Bangalore into a truly global metropolis.

Whoever said happiness cannot be bought didn’t know where to shop. From kiddy rides to water slides at the many amusement parks to karaoke sessions where you can croon away to glory, Bangalore offers a variety of ways to rewind, reboot and restart for people of all age groups. You can go rock climbing at the Kanteerava Indoor Stadium if you don’t want to do the real thing. You can bowl away to your heart’s content, drown your sorrows in a glass of wine at the many pubs and lounge bars or engage in a free fall that defies gravity at the nearest bungee jumping site.

If you are in the mood for entertainment, you could even go dizzy, zooming around go karting tracks, learn the latest bhangra dance, get into the rhythm of salsa and ballet, round off those rough edges with classes on personality, grooming and etiquette, go bazookas at a simulation video game parlour or puff away at a no-caffeine hookah lounge. All you need is an open mind and a spirit of adventure and everything else will take care of itself. If nothing else, you could boast of knowing the difference between a canter and a jump at the Bangalore Turf Club or best, become a linguist and be as much at home with Spanish and French as you are with English and Hindi.

TAKE A CITY WALK

To begin with, there’s nothing like the Bangalore Walk to get introduced to the city. Conducted every Saturday and Sunday, the three-hour walks are one of a kind. Take The Green Heritage Walk by Vijay Thiruvady. In the words of writer Girish Karnad, “It’s a nature walk that brings to life history, environment, botany, culture, landscape architecture, gardening and food - unpeeling an unknown Bangalore.” On the other hand, The Victorian Bangalore Walk traverses history from the fall of Tipu in 1799 to the turn of the 20th Century. The growth of the cantonment is traced by visiting 19th Century churches, public buildings and stately homes. Hear stories of Bangalore’s famous British residents, and discover what made Bangalore tick in the 19th Century. If you really want to understand Bangalore, what makes it tick, why it is what it is, walk through Victorian Bangalore. Visit bangalorewalks.com for more details.

SPORTS FREAKS

Find more joy in flexing muscles? Go ahead and make it to the nearest cricket pitch and play to the gallery, hop over to the lawn tennis stadium and do a Roger Federer or get the kick back into your life with American football by joining the Bangalore Rugby Club. Sit on a high horse and do the rounds of the Bangalore Amateur Riders’ Institute or take a swing at the golf course. Beyond the city’s boundaries, you could commune with nature. Take a coracle ride down the river Cauvery and experience the adrenaline rush when the boat does a 360 degree turn or take a dive in the sky from a microlight aircraft and land on the ground with the help of a parachute.

FUN UNLIMITED

Indulging in some music therapy is just what the philosopher ordered and Bangalore has it all. Western or classical, music or dance, you could do a salsa, learn the nuances of jazz or serenade your partner with ball-room dancing that can add to your grace quotient. If guitar classes don’t make you spin with joy, you could tease the ivories on the piano or drum up enough money to take your entire family out to watch a film at PVR’s Gold Class that allow you to watch the film lying down – they have the world-famous reclining seats from Laz Boy. If you are bored of the saas-bahu soaps on TV and want to get away from the routine, you could learn sculpting a la Demi Moore in the film Ghost. Or better still, become an artist by signing up for a class in drawing and painting. If you want to entertain people at parties and get-togethers, you could learn tarot and handwriting analysis. Not only will these tweak your intuition but also give you a solid grounding in the art of reading people’s minds (or atleast you can pretend to). But if you want to get real, then watch just about every good drama in town.  Keep an eye out for plays in the newspapers and make it a point to see them. You have no idea how some of them can be very cathartic.

PUB HOPPING AND PEOPLE WATCHING

With so many malls and coffeeshops in the city, there’s much room to indulge in some healthy people watching. It’s perfect when you want your ‘alone time’ and still want to be part of the crowd. At the city’s lounge bars, you can let yourself be to the accompaniment of music that ranges from hip hop and retro to rock and live jazz. With subtle lighting, cool ambience (entering one such pub off Brigade Road is like stepping inside a spaceship), Zen-like surroundings (a lounge bar on Church Street has water dividing the restaurant section and the bar), some lounge bars simply know how to set the mood. And you only have to go with the flow.

The pub themes vary depending on the music they offer and the kind of crowd they attract. The music ranges from hip hop and retro to rock and jazz and they even bring in live bands. For some, the USP is loud music and special nights. From a ladies night to a retro night, some pubs offer something different every week. There are also pubs which are more of places to be seen rather than places for connoisseurs of fine liquor. On their own, Bangaloreans drink beer but when they are out to entertain others, they make sure it’s the wine that flows. Many lounge bars try to create a space for social drinkers — people who come in to enjoy their drink, not to get high. But the best part of the city? It has pubs and lounge bars where even single ladies can walk in and have a drink without feeling uncomfortable.

If you are bored with pub and lounge hopping, you could try party hopping. The trick is to attend the dullest party first and move on to better pastures. By the time you are done with it, you would be hitting the bed only after sunrise.

SITE-SEEING

Begin your journey with Vidhana Soudha. Built of granite and porphyry, this architectural delight is home to all the political and bureaucratic activity in Karnataka. It is the seat of the Secretariat and the State Legislature. Close to it is Cubbon Park, a 334-acre park laid out in 1864. Dotted with statues, giant bamboos, flowerbeds, natural rock formations, it is also home to a Glass House originally modeled on London’s Crystal Palace. You can follow this up with a visit to Lalbagh. Laid out by Mysore ruler Haider Ali in 1740, it is spread over 240 acres. Take a stroll by the 30-hectare lake in the early mornings and late evenings to avoid the harsh sun. If you are a first time visitor, hire an electric car whose driver-cum-guide will show you around the park and regale you with its historical significance. Don’t miss the annual flower shows in January and August that attract lakhs of people. Climb the rock mountain and take a look at Bangalore from the top, it’s euphoric.

Your next stop should be Tipu’s summer palace. Situated near City Market, this dilapidated palace built in 1790 is made largely out of wood with embellished balconies, pillars and arches. However, Bangalore Palace still retains a lot of its grandeur. Built in 1880 at a cost of Rs 10 lakh, it was modelled on Windsor Castle, complete with fortified towers and turreted parapets. It is now rented out as a popular venue for functions such as weddings, music concerts, trade and consumer fairs and film shoots. Some other must-visit landmarks include Bull Temple in Basavanagudi, ISKCON temple in Rajajinagar, the 65-feet tall Shiva statue on Airport Road, the Visveswaraiah Industrial and Technological Museum on Kasturba Road, the Jawaharlal Nehru Planetarium on Raj Bhavan Road and Gandhi Bhavan on Kumara Krupa Road.

WEEKEND GETAWAYS

If you want to step out of the city for the weekend, here are a few must-visits. There’s Bannerghatta National Park for the butterfly park, tiger and lion safari, Shivanasamudram for its waterfalls during July and August, hill station Devarayanadurga, Hesaraghatta for its boating and windsurfing opportunities, Ramohalli for the fabled big banyan tree spread over four acres, Shivaganga hill for trekking and mountain climbing, Channapatna for its wooden toys, Mekedatu for its picturesque locale where river Cauvery offers an awe-inspiring sight and Kolar Gold Fields, the world’s deepest gold mine. If you want to visit any of these places, one call to a tour operator or even a car rental service should do the trick.

SOME MUST-DOS

1. Bangalore has a lot to offer in both western and classical music and dance. If guitar classes are not your thing, you could go for piano or maybe the drums. If that isn’t it, you could try attending classes in painting, salsa, hip-hop or even ball-room dancing. Bangalore has a cookery class at every nook and cranny. So you can learn how to cook or make some new stuff. Start with basics, tea, maggi, dal, chawal, macaroni and cheese pasta and then try your hand with chocolates, cakes and dishes. You can also learn how to make candles and perfumes.

2.     Opus off Sankey Road is not only a restaurant and pub serving the best of Goan food, barbecues and cocktails in an outdoor setting but also serves as a platform for budding singers to showcase their vocal cords. Every week, wild karaoke nights are held to beckon the best upcoming musical talents in town. Not just that. You get to play Pictionary, Taboo, Boggle and Scrabble. With happy hours extending from 12pm to 7pm to the accompaniment of live music, entertainment is served up in more ways than one here. For a bottle of beer, it costs Rs 100.

3.     Paintball: Started in the US, Paintball is a sport in which participants eliminate opponents from play by hitting them with paintballs (spherical gelatin capsules containing primarily polyethylene glycol, other non-toxic and water-soluble substances, and dye) shot from a compressed-gas-powered gun, commonly called a marker. A game of paintball usually involves two opposing teams seeking to eliminate all of the other team’s players or to complete an objective, such as retrieving a flag. An average, non-professional game of paintball usually lasts around five minutes to half an hour. The uniqueness of the sport is that any one can play regardless of skill, age, gender or fitness levels. For more details, visit www.yuyutsa.com.

4.     Omkar Hills: Just a five minute drive from Rajarajeshwarinagar off Mysore Road, Omkar Hills is home to the world’s second biggest clock tower, the first being the Allen Bradley’s clock in Michigan, USA. Omkar Hills is both a tourist spot and a multi-religious forum amid enthralling forest environs. At each hour, the clock, made by HMT, makes a unique loud sound of conch followed by the ‘Omkar’ sound five times and rings the bell that many times, matching the hour it indicates. Omkar Hills has the Sarvadharma Samanvaya Mantapa, an all-religion pavilion built under a 600-year-old banyan tree. This serves as a silent zone for peace lovers who come here for meditation. Call 2860 2586.

HISTORY OF BANGALORE

In the 1st Century AD, Bangalore was a pit stop on the overland trading route between the west and east coasts of India before becoming a weaving centre in the 12th Century.  In the 13th Century, Hoysala king Veera Ballala II called it ‘Benda Kaalooru’ or ‘Town of Boiled Beans’.  In 1537, Kempe Gowda built the fort city of Bangalore. Later Bangalore fell to the armies of Adil Shah, the Sultan of Bijapur, who later gifted it to Shahji Bhonsale (Shivaji’s father). In 1687 AD, Mughal emperor Aurangzeb captured Bangalore only to sell it for a pittance to the Wadiyars. Bangalore was briefly ruled by Hyder Ali and later Tipu Sultan before going back to the Wadiyars. In 1831 AD, alleging misrule by Krishnaraja Wadiyar III, the British took over the Mysore administration. In 1881 AD, Bangalore was returned to the Wadiyars.

WHEN TO GO

Bangalore is good through the year. If you are visiting during the peak season (Jan-March), you would have to book your hotel rooms three months in advance. The best time to find accommodation is the summer months of April, May and June.

BEST BUYS

Bangalore is known for its silk and sarees, sandalwood, antique pieces and jewellery shops. To get your hands on these, the places to visit are MG Road, Brigade Road and Commercial Street.

DID YOU KNOW

In 1905, Bangalore became the first city in south Asia to be electrified. The first light bulb was switched on in City Market.

In 1940, Bangalore became a US Airbase. Businessman Walchand Hirachand sets up Hindustan Aircraft, a unit to assemble and repair American WWII aircraft, which later became Hindustan Aeronautics Limited.

Jayanagar was the largest residential layout in South Asia, when it was inaugurated in 1948

Mysore State was renamed Karnataka in 1973

Bangalore’s first flyover is the one built at Sirsi Circle in KR Market in 1999

Infosys is the first India-based company to list on a US stock market, the NASDAQ and Wipro Ltd is the first Indian company to be listed on the New York Stock Exchange.

Reva, India’s first electric car was conceived and launched in Bangalore in 2001.