It depends upon the company’s management to decide who gets how many options. But as a general guide, people in higher management are offered more options. Sometimes people in special projects which brought the company more profits are offered more options. Suzlon, as discussed earlier has given equal number of options to all its employees. The CEOs and key managers in companies like L&T, ICICI Bank, HCL Tech, Biocon, Dr.Reddy’s Laboratory, HDFC Bank, Dabur, etc have huge assets in their portfolios because of their stock options.

ESOPs (Employee Stock Option Plans) were hottest during the ‘dot com’ boom years among software and internet based services companies. They are picking up now after many years. The difference is that now-a-days even manufacturing and banking companies are offering ESOPs to their employees.

What are ESOPs?

ESOPs, which give employees a stake in the ownership of the company, are provided by the company to employees to boost their motivation and loyalty.

ESOPs give an employee the right to buy the company’s shares during a predetermined time period and at a predetermined price (strike price). Generally the strike price of the shares are offered to the employees at par or at a discount to the prevailing market prices.

ESOPs are structured in such a way that the option to buy the shares at a discount can be exercised only

after a certain period of time, which is known as the vesting period.

So for example, an employee may be able to exercise his right over his shares after a vesting period of one year. In some instances, he may be allowed claim to a certain percentage of shares, known as the vesting percentage after one year and the rest over the next few years.

Can a Non-Listed Company give ESOPs?

Yes, even a non-listed company can give ESOPs.

In fact, ESOPs in innovative, fast growing, unlisted companies were the reason many professionals made their millions in the Silicon Valley in USA. This trend however is yet to pick up in India.

When does one pay to get the shares?

Generally, in practice, there is no need to make a payment when ESOPs are allocated to the employee.

Recent case as example

Last week Suzlon, had announced an ESOP covering almost 90% of its employees to celebrate its 15^th anniversary.  Here, options of 1500 shares are allocated equally to all its eligible employees. The price at which the shares are offered (strike price) is at Rs.72.70/- per share compared to the current market price of about Rs.73/- per share.

The vesting date is the day the employee gets the right to own the share at the strike price. In case of Suzlon, they get the first ownership of 500 shares after one year (vesting date) and 500 more every year for 2 more years.

The actual date on which the employee wants to reap the benefits of his shares is the exercise date. In the case of Suzlon this can be upto 31st march 2014.

What happens when there is an increase or decrease in the market price?

Here, the whole point of the option is that the employee reaps the profit of any increase in the market value of the shares on the chosen exercise date and if the market value is not significant or is lesser than the strike price, he can choose not to exercise his right, which then is the crux of the ESOP.

Can I transfer the right for the ESOP to somebody else?

No, this is not allowed. The ESOP is provided to an employee as a benefit for his/her specialized skill / contribution to the company. This cannot be transferred to anybody. However after the shares are bought by the employee he/she is free to trade/ transfer/ gift the shares to anybody as per his/her wish.

How many options am I eligible for?

It depends upon the company’s management to decide who gets how many options. But as a general guide, people in higher management are offered more options. Sometimes people in special projects which brought the company more profits are offered more options.

Suzlon, as discussed earlier has given equal number of options to all its employees.

The CEOs and key managers in companies like L&T, ICICI Bank, HCL Tech, Biocon, Dr.Reddy’s Laboratory, HDFC Bank, Dabur, etc have huge assets in their portfolios because of their stock options.

How are ESOPs taxed?

The stocks bought using an ESOP are taxed as fringe benefit when bought. The value to be taxed will be the difference in value between the actual value at which shares are bought and the market value of the shares.

They are taxed as normal shares are taxed at the time of selling. The usual rules related to capital gains tax will apply, now. Post the implementation of the New Direct Tax Code, the proceeds of the sale will be added to income and taxed accordingly. The calculations related to the taxation are beyond the scope of this primer and will be discussed in a separate article.

Will employees get special benefits in an IPO?

Yes, generally employees are given some special considerations during an IPO (Initial Public Offering). An Employee Stock Purchase Plan (ESPP) is the preferential allotment of shares most at preferential prices to employees when a company comes out with an IPO. Typically in India, shares are offered at about 5% discount to the final offer price to the general public.

As employees the additional benefit can be that some portion of the shares offered may be preferentially allotted to them. So there is a higher chance for an employee to get he shares allotted to him/her. This is definitely an advantage for employees.

Budget 2010 seemed to bring lots of hope in the minds of people regarding the new schemes and policies which were promised to be introduced. The reports submitted by every ministry had coated many plans towards the growth of the country.

The budget gave ears to the electric vehicle manufacturers where the finished vehicles had to pay only 4% duty, the price of gold was expected to be lesser as the duty on gold ore had been shifted to specific duty. The personal income tax slabs were increased; the prices of mobiles, watches and ready made garments were expected to go down….

But, did all that the FM promised really take place? Or was it a story of Promises made, but, not delivered? The following paragraphs take a view on what “Did not Happen” of all that was promised in Budget 2010.

Goods and service tax

The Goods and Service tax was expected to replace all indirect taxes that are charged on goods and services by the Indian Central and State governments. According to the finance minister the Goods and Service Tax along with Direct Tax Code were to come into force from April 1st 2011.

Current Status: GST which was supposed to begin from the first of April 2011 has been postponed by one year as the government requires more time for taking a stronger decision regarding the matter. According to recent reports India’s proposed new Goods and Service Tax is expected to roll out only in the month of April 2012 due to the continuous disruption in the parliament.

Railway Freight corridor

The railway budget 2010 had included the railway freight corridor project in the country. The Railways planned to create two freight corridors in the country one from Delhi to Mumbai and the other from Delhi to Kolkata.

Current Status: This project has not become successful because the public have been complaining of land acquisition.

Railway Minister had also announced in the budget 2010 that six bottling plants with public private partnership (PPP) is to be set up in order to provide fresh drinking water at cheaper rates to all its passengers. The bottling plants were to be established at Ambala (Haryana), Amethi (Uttar Pradesh), Mal, Nasik (Maharashtra), Farakka (West Bengal) and Trivandrum (Kerala).

New Direct Tax

The New Direct Tax Code was proposed in the budget 2010 in order to change the current system. The plan was to be implemented in the year 2011 which was believed to bring about smoother transition. The plan suggests letting off the general tax payer from paying income tax if his income is Rs 1, 60,000 in a year. The features of the new direct tax included the maintenance of tax exemption at Rs 1.60 lakh income a year, 10% tax on income of Rs 1.6-10 lakh, 20% on income over Rs 10 lakh up to Rs 25 lakh, 30% on income beyond Rs 25 lakh, all direct taxes including FBT and income tax would be brought under one code etc.

Current Status: The New Direct tax is not yet implemented and seems a long way away because it has become very complicated and requires further revisions. Its ironical that the new direct taxes code was envisaged in the first place to make things simple!

New Pension Scheme

The new pension schemes are the scheme introduced by the government of India where individuals can save money during their work life for their financial security for old age when they no longer work. People who join get a Permanent Retirement Account (PRA), which can be accessed online and through points of presence (PoPs). The budget had provided for Rs 100 crores to be given as incentive @ Rs 1000 for every new account opened during the year.

Current Status: The scheme has failed to take off. Published data available till Nov 2010 has shown only 5000 registrations for the scheme. It seems far-fetched that the target of 100000 accounts will be met anytime in the near future.

1987 marked a very special year for both Maruti as well as our nation with the export of a first lot of 500 cars to Hungary. One can almost feel the jubilation that the workers of MUL must have felt in gaining acceptance in Europe, the very Mecca of automotive engineering. 1992 was a year of major overhaul in MUL with Suzuki increasing its shares to 50 %.

There are some brands that reflect the story of a nation, its rises and falls, its successes and failures. Maruti is one such brand. If the blue wings symbolising this brand could talk, what a story it would tell! It would speak about a country’s first venture into the cutthroat field of automobile manufacturing, it would tell us about the blood and sweat that transformed this brand into the global phenomenon that it now is but most of all, it would tell us that India took its first steps into the modern world along with it.

The story of this brand begins in 1981 when Maruti Udyog Limited (MUL) was incorporated under the provisions of Indian Companies Act, 1956. The Govt of India selected Suzuki Motor Corporation (SMC) as their partner in this joint venture. There is an interesting story behind this unlikely choice. Almost all major brands had announced their interest in this venture that would give them an entry into the virgin Indian market and in the initial meetings; all the companies were represented by their CEO’s. However the latter details were handled by executives of the respective companies, with one exception. The then CEO of Suzuki, Mr   Osamu Suzuki ensured that he attended every single meeting personally. He later on went to say that this sign of dedication was probably what got them the contract!

In 1982 the agreement was signed between the Indian Govt and SMC and MUL was finally born. Within thirteen months of its inception, MUL launched the Maruti 800, a 796 cc hatchback model car. The legend goes that the then Prime minister of India, Indira Gandhi herself handed over the keys to the first customer, Mr Harpal Singh. Twenty five years later, he still uses the same car. Between the years 1973 to 1983, the Indian car market had seen a total sale of 35 000 vehicles. Maruti 800 was to completely revolutionise this market reaching a total production of 1 million vehicles within March 1994. Again in 1984, the Omni was launched and was an instant success. Convenient and spacious, it was exactly what the up and coming business class in India wanted. This was followed by the launch of the Gypsy the next year. India’s first off road vehicle, it is still the best to do the Himalayan rally, ‘Raid de Himalaya’.

1987 marked a very special year for both Maruti as well as our nation with the export of a first lot of 500 cars to Hungary. One can almost feel the jubilation that the workers of MUL must have felt in gaining acceptance in Europe, the very Mecca of automotive engineering. 1992 was a year of major overhaul in MUL with Suzuki increasing its shares to 50 %. The next major milestone in the story of this brand is the launch of Maruti Zen. The following years saw the launch of the Esteem, crossing of the two million mark as well as the launch of Maruti Service Master as a model workshop. Things continued pretty much in the same vein until the year 1999.

This was the year Hyundai and Daewoo arrived with their flagship brands Santro and Matiz and suddenly Maruti was under siege. Further trouble came in the form of Telco, India’s second largest automobile maker who challenged Maruti for non compliance with Euro2 emission norms. A besieged MUL reported a loss of 269 crores in 2000. But Maruti came back, with a vengeance. Suzuki responded aggressively to Telco’s allegations and out came the newer, zippier 800 fully compliant with all norms. This was followed by the launch of Maruti Alto as well as the Institute of Driving Training & Research (IDTR) in Delhi. 2001 saw a nice, tidy little profit of Rs 104.5 crores. To round things of nicely, three more branches were launched, Maruti True Value where customers could obtain genuine spare parts, Maruti Finance and Maruti Insurance. The cherry on top of the gorgeously iced cake that was 2000 was definitely the launch of Versa.

In 2002 the Indian govt divested the rest of its shares in MUL and SMC acquired a majority stake of 54.2%.The following year, the company was listed in the BSE and NSE, and saw the IPO issue being oversubscribed 11.2 times. The following years saw the launch of the redesigned versions of Zen and Esteem as well as the launch of Swift, WagonR and Estilo. 2007 was again a trademark year, with the launch of three new brands – Swift diesel, SX4 and Grand Vitara, start of a new plant in Haryana and the official transition of Maruti Udyog Limited to Maruti Suzuki India Limited.

2008 saw the premiere of the concept car A star as well as the launch of Dzire. This year saw the company featuring among the world’s 200 most reputed companies as well as coming fourth in the passenger car sector. It would also be the ninth year running when the brand received the JD Power customer satisfaction award. This year would also, (phew!!!!) mark the sale of 7.5 million units of Maruti cars. 2009 would prove to be no less important to Maruti with Swift becoming the fastest car to cross the 3 lakh limit as well as the launch of their 50^th driving school. 2008 – 2009 would also see the highest number of exports in the history of the brand. What more is there to be said?

So, what does the future hold??? The future holds nothing but wings for Maruti and it’s a sure bet that this brand will continue to soar. Makes a good equity investment tip too!

According to the Transfer of Property Act every joint or co-owner has a proprietary right of the entire property. Hence, any sale has to be done with the consent of all co-owners involved. If, however there are specific conditions in the agreement that gives co-owners exclusive rights to certain parts/portions of the property, a co-owner can sell his portion to whom he chooses.

Sanjay and Mughda were a happily married couple before some unfortunate circumstances forced them to separate. They co-owned a house and Sanjay insisting on dividing all the things between the two, got hold of a lawyer to handle his claim. The lawyer, after feeding some legal mumbo jumbo to her, convinced Mughda that she did not have a stake in the house. Little did she know that she had equal rights to the house! All this, because of Mughda’s ignorance about the rights of a co-owner.

Who is the co-owner of a property?

Co-ownership or Joint ownership simply put is when two or more persons hold title to the same property.

What are the types of co-ownership?

Tenants in Common — When two or more people buy a property but do not specifically mention the share that each has in the property, a ‘tenancy-in-common’ is said to exist. All the co-owners can use the entire property and every co-owner is deemed to be having an equal share in the property. Upon death of one of the co-owners, the interest in the house does not pass to the other co-owners but to the person named in the will of the deceased, who will then become a tenant-in-common with the surviving co-owners.

Joint tenancy — Joint tenancy is a form of co-ownership where property is owned by two or more persons at the same time in equal shares. This type of tenancy provides rights to ownership of the property for the co-owners who outlive other co-owners. Unlike tenants-in-common, when one joint tenant dies, his/her interest automatically passes on to the surviving joint tenant(s). There are four legal requirements necessary in order to create a joint tenancy:

• Unity of time
• Unity of possession
• Unity of title

This legal requirement simply means that the co-owners need to take the same title at the same time, same deed and with equal interests.

Tenancy by entirety — This is a special form of joint tenancy when the joint tenants are namely the husband and wife — with each owning one-half. Neither spouse can sell the property without the consent of the other. In this type of tenancy also, the share of ownership of one co-owner automatically passes on to the co-owner who outlives the other. Apart from the four aspects mentioned in joint tenancy – Unity of time, possession and title, another aspect is also key here. This last aspect is the unity of marriage, which can be terminated only by divorce, death or mutual agreement of both the spouses. However, such a termination will result in the type of ownership to be converted to “Tenancy in common”, explained above.

In the event of such an occurrence, it is important to brush up the laws involving transfer of property to be clear about one’s rights.

What are laws related to transfer of property by a co-owner?

Section 44 of the Transfer of Property Act 1882 deals with transfer by a co-owner and it also deals with the rights of a transferee in this type of a transaction.

According to the Transfer of Property Act every joint or co-owner has a proprietary right of the entire property. Hence, any sale has to be done with the consent of all co-owners involved. If, however there are specific conditions in the agreement that gives co-owners exclusive rights to certain parts/portions of the property, a co-owner can sell his portion to whom he chooses. However, a currently dwelling house is an exception to this rule, where consent has to be sought from both co-owners who jointly own the house.

What are the rights of a co-owner?

A co-owner is entitled to three essentials of ownership:

• Right to possession
• Right to use
• Right to dispose off his share of the property if it is clearly stated, in the deed.

Therefore, if a co-owner is deprived of his property, he has a right to be put back in possession. For example, in Mughda’s case, she can rightfully claim her share in he property.

Why is co-ownership better?

If you are a married couple, co-owning a house it with your spouse has many benefits. Both can get tax benefits. In case of a joint ownership, the husband as well as the wife individually will be able to claim deductions under Section 24 of the Income Tax Act, for up to Rs. 1, 50,000 for interest. You can claim tax benefits for your principal amount under Section 80 C for a maximum Rs. 100,000. It also enables you to bargain for a bigger loan amount by clubbing your spouse’s income. It also enables easy transfer of property to your children.

Home-loan disbursements have picked up as interest rates are under check. RBI is also taking steps to bring in the revival in the real estate sector. RBI has already stated that the current customers should be offered an alternative between continuing with their old home loan rates or move to new rates decided by the base rate system. This will help the old home loan borrower to negotiate for lower interest rates now that the base rate has kicked in from 1st July 2010. However, it is too early to determine the percentage of existing home loan borrowers who might opt of this. As per ICICI Bank, interest liability of existing home loan borrowers will not be impacted unless they voluntarily shift to the new system. The final lending rate will not change drastically.

The real estate sector is back in news. Property prices have been on a sharp rise since the last three quarters as there has been an upswing in the economic growth of the country. This has created improved affordability, lower loan interest rates and better job security helping revive demand for housing. Here is an overview of the current scenario in this segment in various parts of the country.

Mumbai

Judgement on FSI:

In June this year, The Bombay high court quashed the rule that allowed 33% additional floor space index (FSI) to builders executing projects in suburban Mumbai in lieu of a fee. FSI (Floor Space Index) refers to the constructable area on a plot. A FSI of 1 means that the area of construction should be equal to the area of the plot. E.g. a plot of 1,000 sq ft can only have a built-up area of 1,000 sq ft and no more.

The maximum permissible FSI in suburbs is 2 of which FSI of 1 was allowed by the act and developer could avail an additional FSI of 1 if required through transfer of development rights (TDR). The TDR (transfer of development rights) policy was launched in 1991. Owners whose plots were reserved for playgrounds, markets and gardens or meant for road widening, could surrender their land to the BMC and get an equivalent space in the suburbs. In return, they are allowed proportionate TDR rights that can be utilised by themselves or owners, who can also sell the TDR rights.

Earlier in 2008, the government had allowed additional construction rights by hiking the FSI in Mumbai suburbs from 1 to 1.33. This meant that every building in the suburbs was eligible for additional construction rights up to 0.33 FSI without needing to purchase TDR, this however was negated by the Bombay court’s ruling.

The new Bombay court judgment has now lead to an increase in TDR prices by around 20%, thereby increasing the cost of development for the builders.

The prices in Mumbai have shot up in recent times. As per reports, on an average, the prices of residential projects in Mumbai have risen by around 20% in the past few quarters. This is mainly because of less supply.

On account of the economic turmoil, the developers have not invested in new projects. They are looking at selling their existing projects. Some even ventured into developing small launches in the premium segment of the housing market. While, the units/month sold on average during 1QFY10 was lower than that sold during 4QFY09 by 18%, the months of unsold inventory stood at 8, which is the lowest level since January 2008. As per analysts, the fall in volume on the sequential basis is mainly due to price hike.

NCR region:

After a slowdown in launches during CY09, the Noida-Greater Noida region during Q1CY10 saw the launch of a number of new projects. Over 50,000 apartments are planned to be constructed over CY10-12. Further, the FSI in Noida was enhanced to 2.5x for group housing projects from 1.5-1.75x earlier, which led to more affordable housing projects. Noida saw a higher demand during 1QFY10 (4400 units) as compared to 4QFY09 (3000). In Gurgaon, while on YoY basis, the units/month sold were lower, on the sequential basis, there was a pick-up of 15% to 1900 units sold in March. The price hike would be capped to about 5 to 15% as there is adequate supply to meet the demand.

Bangalore is the fastest growing major metropolis in India. Residential market has seen some significant action. With pick up in economic activities, hiring is back in the IT segment. The IT/ITES sector accounts for about 50-70% of demand in India’s property sector. Bangalore being the IT hub, is witnessing good demand in residential space. The pick-up in the IT/ITES sector have resulted in an improvement in sentiment due to rising salaries and increased job security. This has driven the residential sales. However the buyers are price-conscious and hence the mid-segment is seeing aggressive new launch plans for FY11 which are now being announced after a gap of almost 2-3 years. Property prices have stabilised and have started seeing a rise in mid-segments.

Chennai: Many plush property projects are coming up in the next 2 to 3 years. With the city growing as a major IT hub, demand is picking up on account of the recent hiring by the IT sector. Monthly sales volumes across major cities such as New Delhi, Mumbai, Bangalore, Chennai, Kolkata and Hyderabad are around 2-3 times from their troughs.

Kolkata: Kolkata’s real estate market is buzzing with activity. The city is witnessing new construction activity and re-development which are likely to come up within the next 12 to 24 months simultaneously. The middle class has started migrating to the suburbs in search of affordable housing. The development in the industrial sector coupled with the boom in the Information Technology led to a significant growth of the real estate in Kolkata. For eg: Tata Housing has increased prices of residential units at Eden Court, the company’s first housing project in West Bengal, for the second time in recent times. From Rs.2,750 per square feet since inception, the price has touched Rs. 2,900 per square feet. With few ready-to-occupy flats available the price hikes have happened due to imbalance in supply and demand.

Lending by banks

Home-loan disbursements have picked up as interest rates are under check. RBI is also taking steps to bring in the revival in the real estate sector. RBI has already stated that the current customers should be offered an alternative between continuing with their old home loan rates or move to new rates decided by the base rate system. This will help the old home loan borrower to negotiate for lower interest rates now that the base rate has kicked in from 1st July 2010. However, it is too early to determine the percentage of existing home loan borrowers who might opt of this. As per ICICI Bank, interest liability of existing home loan borrowers will not be impacted unless they voluntarily shift to the new system. The final lending rate will not change drastically.

The government is also looking at changes in the prepayment rules to enable a home loan borrower to shift to cheaper lenders if his bank raises interest rates soon after disbursing the loan. Though still in discussion, as per the government, banks would have to provide a two-month window to their new borrowers to shift to some other bank without prepayment penalty if they have raised interest rates too quickly after disbursement.

On the flip side, the banks have become more cautious with lending. Earlier banks used to finance nearly 80% to 85% of the transacted value. Now only 70 to 75% of the total property value is financed. Further, the lenders pick the lower value of these two – the market valuation done by bank or the transacted value.

In the end

With a better economic outlook and lower interest rates the demand for housing is likely to be on the upswing. Also with the revised paper on DTC, the government has proposed to retain the income tax exemption for up to Rs 1.5 lakh paid as interest on housing loans in a year. This will bring the cheer back to home loan borrowers. The demand for houses in India is huge as many people do not have their first house. However, the supply is limited on account of zoning rules. Also a lot of politics is involved. Buying a house is a lengthy process. Further, experts feel residential prices have reached bubble levels. Further hike in prices would lead to lower sales. Also with inflation levels not cooling off, the interest rate hike would be on the cards. A need for a regulator like the one for the petroleum ministry and for civil aviation is needed. This would benefit the sector in the long run.

Driving the most luxurious car has been made possible by the stiff competition in the automobile industry in India, with overseas players gathering the same momentum as the domestic participants. Every other day, we have been hearing about some new launches, some low cost cars – all customized in a manner such that the common man is not left behind. In 2010, the automobile industry is expected to see a growth rate of around 10-14%.

Amidst all the havoc of the financial crisis of the past two years, it looks like India has a “sun-rise’  sector to bet on! The Automobile sector especially passenger cars are moving into top-gear. Although industry predictions are of 10-14 % growth as against 26% last year, yet, this sector seems to have some smiles to give at the end of 2010-11

Let’s look at some of the history and how we stand in today’s world.

Following economic liberalization in India in 1991, the Indian automotive industry has demonstrated sustained growth as a result of increased competitiveness and fewer restrictions. Several Indian automobile manufacturers such as Tata Motors, Maruti Suzuki and Mahindra and Mahindra, expanded their domestic and international operations.

The automobile industry in India is the ninth largest in the world with an annual production of over 14,049,830 units in 2009-10. In 2009, India emerged as Asia’s fourth largest exporter of automobiles, behind Japan, South Korea and Thailand. In 2009-10 the Automobile Domestic Sales increased to 12,292,770 units from 9,724,243 units in 2008-09.

Evolution

In 1947, the Government of India and the private sector launched efforts to create an automotive component manufacturing industry to supply to the automobile industry. After 1970, the automotive industry started to grow, but the growth was mainly driven by tractors, commercial vehicles and scooters. Japanese manufacturers entered the Indian market ultimately leading to the establishment of joint ventures with Indian companies.

In the 1980s, a number of Japanese manufacturers launched joint-ventures for building motorcycles and light commercial-vehicles. It was at this time that the Indian government chose Suzuki for its joint-venture to manufacture small cars. Since then, automotive component and automobile manufacturing growth has accelerated to meet domestic and export demands.

Exports

India has emerged as one of the world’s largest manufacturers of small cars. According to New York Times, India’s strong engineering base and expertise in the manufacturing of low-cost, fuel-efficient cars has resulted in the expansion of manufacturing facilities of several automobile companies like Hyundai Motors, Nissan, Toyota, Volkswagen and Suzuki.

For the quarter ending Jan -  March, 2010 Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter achieved record sales of 162,273 Vs. 121,565 units for the same period last year. The exports grew from 21,405 units in March, 2009 to 23,534 units in March, 2010. Nissan Motors plans to export 250,000 vehicles manufactured in its India plant by 2011. Similarly, General Motors announced its plans to export about 50,000 cars manufactured in India by 2011.

In September 2009, Ford Motors announced its plans to setup a plant in India with an annual capacity of 250,000 cars for US$500 million. The cars will be manufactured both for the Indian market and for export. The company said that the plant was a part of its plan to make India the hub for its global production business. According to Bloomberg L.P., in 2009 India surpassed China as Asia’s fourth largest exporter of cars.

Potential of the Automobile industry

Driving the most luxurious car has been made possible by the stiff competition in the automobile industry in India, with overseas players gathering the same momentum as the domestic participants. Every other day, we have been hearing about some new launches, some low cost cars – all customized in a manner such that the common man is not left behind. In 2010, the automobile industry is expected to see a growth rate of around 10-14%.

The turnover of the entire industry in April-February 2009-10 stood at Rs. 1,62,708.77 crore vs. Rs. 1,28,384.53 crore in the same period last year. India has attracted lot of Multi-national automobile manufacturers to set up their plants here. Some of the manufacturers who are manufacturing their automobiles are:

• Audi: A4, A6.
• BMW: 3 Series, 5 Series.
• Chevrolet: Spark, Aveo U-VA, Aveo, Optra, Cruze, Tavera.
• Fiat: Palio, Grande Punto, Linea.
• Ford: Ikon, Fiesta, Fusion, Endeavour
• Honda: Jazz, City, Civic, Accord.
• Hyundai: Santro, i10, Getz, i20, Accent, Verna, Sonata.
• Mercedes-Benz: C-Class, E-Class
• Mitsubishi: Lancer, Lancer Cedia.
• Renault: Logan
• Skoda: Fabia, Octavia, Laura.
• Toyota: Corolla, Innova, Fortuner
• Volkswagen: Jetta, Passat.

India is second biggest car buyer in the world

The stimulus packages from the government led to the high growth of the automobile industry. This made India the fastest growing automobile market in the world, second to China. Society of Indian Automobile Manufacturers (SIAM) is extremely excited by this rate and has predicted that the industry will grow at a rate of 10-14% in 2010-11. SIAM released the annual figures which showed that 1, 22, 92,770 units of vehicles were sold in India during 2009-2010 which is a considerable high from previous year’s sale, 97,24,243 units.

Experts have suggested that factors like the government sponsored stimulus package, low interest rates and the aggressive competitiveness to launch newer models have contributed to this growth, which has made India second fastest growing automobile market in the world. China saw a growth of 42% last year and Germany saw 23% growth. Most other markets in the world saw a negative growth in their automobile industry.

However the floating automobile industry in India is set to slow down, relatively, and register a growth rate in the low double-digits in 2010-11, primarily due to the high base effect of 2009-10. It is expected to register a growth of 10-14 per cent this year vis-à-vis the 26.4 per cent growth of the total industry last year.

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As a fall out of the financial crisis the RBI came up with the idea of a Financial Stability Unit to monitor the economy and carry out regular stress testing and creating related reports. The current report has mentioned that the first FSR has indicated concerns relating to rising inflation, government borrowing and capital flows. The good news is that the banking sector has been indicated to be stable and have a high ability to withstand stress.

The Monetary policy can be termed as “The annual RBI vision document” for the coming year. It is basically a synopsis of what has been done by the central bank in the preceding year and clear indication of what it plans to do in the coming year in the domains under its purview.

The monetary policy for 2010-11 has been announced on 21^st April 2010. This article will try to decipher its contents for the common man.

Monetary measures

-Bank rate has been maintained at the earlier level of 6%

-Repo rate has been increased by 25 basis points to 5.25

-Reverse repo rate has been revised to 3.75% from 3.5%

-Cash reserve ratio has been increase to 6% from 5.75% effective 24 April 2010

The above actions in effect will mean that almost close to Rs 12500 crores will be taken out of circulation. Meaning there will be a reduction in loans being given out at least at the lower spectrum or alternatively and practically this could lead to increase in interest rates, more competition among banks to get customers (better rates, better service). The net effect is expected to be that inflation will be contained and more stability in prices can be expected.

From the economy point of view too this will support the recovery of the economy meaning better salaries and employment opportunities in the medium term. The actions also don’t seem to be detrimental to meeting the requirements of government and private credit demand.

Financial Stability Report:

As a fall out of the financial crisis the RBI came up with the idea of a Financial Stability Unit to monitor the economy and carry out regular stress testing and creating related reports. The current report has mentioned that the first FSR has indicated concerns relating to rising inflation, government borrowing and capital flows. The good news is that the banking sector has been indicated to be stable and have a high ability to withstand stress. (For the common man this is a sign of relief considering the closure of banks in almost all countries across the globe). The central bank adds a word of caution saying financial stability cannot be taken for granted and hence is considering making the FSR a half-yearly exercise.

Base Rate:

The base rate system will be implemented from the 1^st of July 2010 and is expected to create a more transparent system of loans, result in better pricing and also ensure that the central bank’s monetary policies are well transmitted to the common man.

Interest rate futures

The central bank has proposed to introduce Interest rate futures on 5 year and 2 year notional coupon bearing securities and 91 day treasury bills.

No collateral for SME loans

The RBI has announced its intention to mandate banks not to ask for any collateral for loans of upto Rs. 10 lakh when availed by Micro and Small enterprises. This will result in a boost to entrepreneurship and probably boost more cheaper services and better products in the market. Employed individuals can now take that important step towards becoming ‘employer’ and thus add to the growth of economy.

Focus on Financial inclusion at the rural level

The bank has indicated its commitment to revive rural co-operative banks and also facilitate more Large Adivasi Multipurpose Co-operative societies (LAMPS) and Farmers Service Societies (FSS) to enable the broader idea of financial inclusion of the farmers. For us this could mean that over the long term farmers will have more and easy access to cheap credit thus helping them boost productivity and maybe finally lead to a reduction in food inflation.

Spreading  the net of banking

Continuing its intention of increasing banking penetration the RBI is putting pressure on Private and Public banks to have a clear Financial Inclusion Plan. It is also relaxing norms relating to Business Correspondents. This could mean that there will be more access to banking services in each nook and corner resulting in better cash flow and improvement in the standard of living of all citizens at the lower end of the financial spectrum. For us this could mean more contribution from the agriculture and rural sectors resulting in a long term stabilizing of prices.

Urban Sector co-operative banks (UCB)

After over 6 years of banning the setting up of UCBs the RBI is considering revisiting the ban to improve penetration of UCBs and also allowing them to enter new areas of business. This could mean more choices in banking for the urban customer looking at alternatives to the Commercial banks. This would also lead to more off-site ATMs so you don’t have to travel long distances in your car to withdraw cash from an ATM.

Customer Service

The RBI is seriously looking at issues relating to levying excessive interest rates and charges of loans and advances. The central bank is looking at mandating banks to pull up their socks vis-à-vis customer service especially as the banks are considered privileged institutions and a special public utility service. It is looking at brining in regulations relating to issuing guidelines on customer service and also ensuring the implementing the same through on-site and off-site inspections and making it mandatory for board meeting to discuss and deliberate on customer service. We could expect more smiling banking executives and also have reasonable rates of interest on loans.

The other announcements relate to Regulatory and Supervisory measures for Commercial Banks and Institutional developments which will not have a very direct effect on the common man, yet, will be discussed in a separate article as it has high relevance for the banking sector.

In effect this will mean that almost close to Rs 12500 crores will be taken out of circulation. Meaning there will be a reduction in loans being given out at least at the lower spectrum or alternatively and practically this could lead to increase in interest rates, more competition among banks to get customers (better rates, better service). The net effect is expected to be that inflation will be contained and more stability in prices can be expected.

The Monetary policy can be termed as “The annual RBI vision document” for the coming year. It is basically a synopsis of what has been done by the central bank in the preceding year and clear indication of what it plans to do in the coming year in the domains under its purview.

The monetary policy for 2010-11 has been announced on 21^st April 2010. This article will try to decipher its contents for the common man.

Monetary measures

-Bank rate has been maintained at the earlier level of 6%

-Repo rate has been increased by 25 basis points to 5.25

-Reverse repo rate has been revised to 3.75% from 3.5%

-Cash reserve ratio has been increase to 6% from 5.75% effective 24 April 2010

The above actions in effect will mean that almost close to Rs 12500 crores will be taken out of circulation. Meaning there will be a reduction in loans being given out at least at the lower spectrum or alternatively and practically this could lead to increase in interest rates, more competition among banks to get customers (better rates, better service). The net effect is expected to be that inflation will be contained and more stability in prices can be expected.

From the economy point of view too this will support the recovery of the economy meaning better salaries and employment opportunities in the medium term. The actions also don’t seem to be detrimental to meeting the requirements of government and private credit demand.

Financial Stability Report:

As a fall out of the financial crisis the RBI came up with the idea of a Financial Stability Unit to monitor the economy and carry out regular stress testing and creating related reports. The current report has mentioned that the first FSR has indicated concerns relating to rising inflation, government borrowing and capital flows. The good news is that the banking sector has been indicated to be stable and have a high ability to withstand stress. (For the common man this is a sign of relief considering the closure of banks in almost all countries across the globe). The central bank adds a word of caution saying financial stability cannot be taken for granted and hence is considering making the FSR a half-yearly exercise.

Base Rate:

The base rate system will be implemented from the 1^st of July 2010 and is expected to create a more transparent system of loans, result in better pricing and also ensure that the central bank’s monetary policies are well transmitted to the common man.

Interest rate futures

The central bank has proposed to introduce Interest rate futures on 5 year and 2 year notional coupon bearing securities and 91 day treasury bills.

No collateral for SME loans

The RBI has announced its intention to mandate banks not to ask for any collateral for loans of upto Rs. 10 lakh when availed by Micro and Small enterprises. This will result in a boost to entrepreneurship and probably boost more cheaper services and better products in the market. Employed individuals can now take that important step towards becoming ‘employer’ and thus add to the growth of economy.

Focus on Financial inclusion at the rural level

The bank has indicated its commitment to revive rural co-operative banks and also facilitate more Large Adivasi Multipurpose Co-operative societies (LAMPS) and Farmers Service Societies (FSS) to enable the broader idea of financial inclusion of the farmers. For us this could mean that over the long term farmers will have more and easy access to cheap credit thus helping them boost productivity and maybe finally lead to a reduction in food inflation.

Spreading  the net of banking

Continuing its intention of increasing banking penetration the RBI is putting pressure on Private and Public banks to have a clear Financial Inclusion Plan. It is also relaxing norms relating to Business Correspondents. This could mean that there will be more access to banking services in each nook and corner resulting in better cash flow and improvement in the standard of living of all citizens at the lower end of the financial spectrum. For us this could mean more contribution from the agriculture and rural sectors resulting in a long term stabilizing of prices.

Urban Sector co-operative banks (UCB)

After over 6 years of banning the setting up of UCBs the RBI is considering revisiting the ban to improve penetration of UCBs and also allowing them to enter new areas of business. This could mean more choices in banking for the urban customer looking at alternatives to the Commercial banks. This would also lead to more off-site ATMs so you don’t have to travel long distances in your car to withdraw cash from an ATM.

Customer Service

The RBI is seriously looking at issues relating to levying excessive interest rates and charges of loans and advances. The central bank is looking at mandating banks to pull up their socks vis-à-vis customer service especially as the banks are considered privileged institutions and a special public utility service. It is looking at brining in regulations relating to issuing guidelines on customer service and also ensuring the implementing the same through on-site and off-site inspections and making it mandatory for board meeting to discuss and deliberate on customer service. We could expect more smiling banking executives and also have reasonable rates of interest on loans.

The other announcements relate to Regulatory and Supervisory measures for Commercial Banks and Institutional developments which will not have a very direct effect on the common man, yet, will be discussed in a separate article as it has high relevance for the banking sector.

Parasailing in Goa, is an exciting water sport option. As you soar in the air and let the cool air to gently touch your face, the excitement really kicks in. In Goa you can parasail in two ways – winch-boat parasailing and beach parasailing. Winch-boat parasailing is usually done alone and it takes you high in the air. In winch-parasailing you have to take off and land on the winch boat. On the other hand in beach parasailing you have to launch and land from the beach itself. While landing the beach parasailing requires good coordination and expertise on the part of operator and the ground staff.

This article is part 2 of a series on adventure holidaying in India and the costs involved in them.

Water sports

Goa is a paradise for water sports lovers. The long coastal area offers wonderful opportunities to indulge in all sorts of water-sport activities and the coast has always appealed beach lovers and sports lovers to try on some new watery excitement. Surf the seas or float across the skies, the options of sport enjoyment are never ending in Goa.

Surfing in Goa

Beaches such as Calangute, Colva, Pololem, Vagator, Baga, Dona Paula, Miramar and Bogmolo are considered idyllic spots for surfing under the brilliant sun. Blue and tranquil, these beach destinations have come as the ultimate choice in aqua sports fun.

Dona Paula bay is the ideal site to start of wind surfing, especially if you are new to this sport. The light and steady morning breeze works just right for learners; while stronger winds that set in during the afternoons offer a perfect challenge for the more experienced surfers.

Sailing in Goa

Sailing is another pleasant experience that any sport lover as well as beach lover would love to try out. It’s the best recreational and relaxation activity for your beach vacation in Goa. Dinghies are available for hire at the various beach resorts and hotels in Goa and can accommodate about three to four people comfortably.

Water skiing in Goa

Take up a speedboat and venture into the sea for a thrilling skiing experience. These boats can carry between six to eight people, are available at the various beach resorts, water sports clubs and hotels in Goa and one can also opt them for sightseeing on the coastal areas of Goa. In Goa you can take up water ski sport at Calangute, Arossim, Candolim, Utorda and Mobor and Rajbaga.

Scuba diving in Goa

To check out the mysterious marine life of Goa, there are plenty of diving options available in Goa. Most of the diving activities take place around the Grande Island and the most common sites include Suzy’s Wreck, Davy Jones Locker, Sail Rock, Turbo Tunnel, Surge City, Mormugao Harbour, Uma Guma Reef and Bounty Bay.

A four-hour high-speed boat ride takes you the world-class dive site of Angria Bank, 120 miles away from Goa. This island offers an amazing wealth of coral and fishes to the divers. Pigeon Island is another dive site near Goa that has interesting marine life as well as good visibility. Some interesting shallow dive sites are available in the waters between Vengurla and Malvan, and it is just a 2 hour journey from Panaji.

Parasailing

Parasailing in Goa, is an exciting water sport option. As you soar in the air and let the cool air to gently touch your face, the excitement really kicks in. In Goa you can parasail in two ways – winch-boat parasailing and beach parasailing. Winch-boat parasailing is usually done alone and it takes you high in the air. In winch-parasailing you have to take off and land on the winch boat. On the other hand in beach parasailing you have to launch and land from the beach itself. While landing the beach parasailing requires good coordination and expertise on the part of operator and the ground staff.

How to Reach:

Goa can be reached by its lone airport (Dabolim), by train, and by the many buses connecting the state with cities in India (primarily Mumbai, Mangalore and Bangalore). If you are travelling from Mumbai or Pune, car travel would provide you a journey through the breathtaking scenery of Konkan area. Travel from Mangalore to Goa is through Konkan rail and you can see its breath taking scenery and Doodh Sagar Lake.

Distance from Goa to various cities:

Mangalore (305 km)

Bangalore (592 km)

Delhi (1912 km)

Hyderabad (747 km)

Mumbai (593 km)

Mysore (643 km)

Pune (450 km)

Costs for Water Sports at Goa

Goa is one of the more expensive states in India to stay in. During the peak season, which lasts from November to late March, the prices are very high. Especially in December, 5 star hotel rates range from around Rs.20,000 to Rs.35,000 per night whereas in non-peak season it ranges from Rs.3,000/- to Rs.6,000/-. An economic hotel will range from Rs 550/- to Rs1,000/- per night. All tourist spots charge more in the peak season.

To reach Goa by train it will cost you around Rs300/- from Mumbai, Rs 275/- from Banglore, Rs 350/- from Chennai and Rs 530/- from Delhi.

In Goa geared and un-geared motorbikes and scooters can be borrowed on rent. Those planning to stay long can consider buying them too. Rentals are around Rs. 150/- to Rs.450/- (+ about Rs.100/- for fuel based on your usage) a day on a scooter and a little more if one is looking for a geared motorcycle.

Always ask for a discount if renting long-term (one month or more). Ensure that you have all the ownership documents of the bike. Also, avoid taking motorbikes with yellow plates out of Goa – it is a punishable offense.

Fares are reasonable in bus and it is a great way to travel and see the country and is inexpensive. Rs.10 to Rs.15/- often get you a 30-40km ride.

There are many car rental companies available that give Mahindra, Maruti Gypsy etc. for rent. Some of these jeeps are open roof. Expect to pay around Rs.700/- to Rs. 800/- a day.

The White Water River Rafting for a half day (which includes 11-15km) may cost around Rs 500-700 per person and a full day (which includes 17-22km) may cost around Rs 800-1000 per person (excluding the food).

Water Skiing Rates: Rs.400-1,200, it varies with the length of ride and operator.

Scuba-Diving Rates: 2,500 per diver for Grande Island, including two guided dives, full equipment and snacks.

Parasailing Rates: A ride of 3 to 5 minutes cost between Rs.500 to Rs. 1,250.

Windsurfing Rates: Rs. 300-600 for an hour, the rates depend of your operator.

Sailing Rates: Rs. 600-1,500 for an hour.

So if you are a water sports lover then just pack your bags and enjoy the water sports and the water diving locations in Goa with the various options available for you.

Flights are available from Delhi which ranges from Rs 6500-13000. Flights from Chennai to Leh costs around Rs 9000-13500, from Mumbai to Leh costs around Rs 8500-12000, and flights from Kolkata to Leh costs around Rs 9500-11000.

From Delhi, taxis are also available which cost -  Indica (4 people) 12,000 and Qualis (6 people) 15,000.

The holiday season has started and we all are wondering what to do to make the holidays worth for our family and for ourselves. It’s the time to relax and charge ourselves. We all like to spend quality time with our family after all they are the ones who support us and take care of us and the reason why we earn.

The holiday season brings lot of confusion along with it as to where we have to go, what to do so that we make the best use of the time. It also requires certain budget planning for making the tour a tension-free and enjoyable one. Now in this article we will discuss the various tourist spots that will suit your needs and also the budget that you will need. This article is for those who are the adventurous types among us.

Trekking

For the people who are fond of nature, have a sense of adventure and love the freedom trekking brings here are some of the options you can explore:

Ladakh Trekking

Ladakh is a mountainous region in Jammu and Kashmir, northwest India and in the area known as the Trans-Himalaya (the lands beyond the Himalaya: Tibet, Xinjiang and northern Pakistan). This barren land is a favorite of trekkers and extreme sports lovers. Trekking options within Ladakh include short, daylong walks up and down mountains to visit remote villages or monastic settlements.

Zanskar

A totally untouched and least explored region of Ladakh is Zanskar, which is easily catching up as a favorite destination for trekkers. The trekking destination to check out in Zanskar is Padum, the centre for hard but rewarding treks to Manali via the Shingo-la, Kishtwar via the Umasi-la, and Lamayuru and Leh via difficult routes through the Zanskar range.

Suru Valley

Next comes the lower altitude region of the Suru valley, offering spectacular views of Nun-Kun and its attendant peaks. Trekking expeditions to this valley mostly take off from Panikhar village, which is also the base for long treks that takes the trekker in the direction of Kashmir and Kishtwar. Other trekking bases from Suru are the monastic settlements of Sanku, further down the valley, and Rangdum.

Kargil

Located in an ideal location within the centre of the Himalayan region, Kargil is one destination of Ladakh with tremendous potentials for adventure activities. Kargil serves as an important base for adventure tours in the heart of Himalayas. It is also the take off station for visitors to the heaven of exotic Himalayan locales, Zanskar Valley. Tourists travelling between Srinagar and Leh have to make a night halt at Kargil before starting off the second leg of their trekking journey.

Other exciting things to do At Ladakh

Meditate: There is a meditation center in Choglamsar, with an office in Leh, which offers meditation courses and retreats for various levels of experience.

Festivals: In late June and early July, the whole Ladakh region comes alive with festivals. Some are held at the local cricket and polo club in Leh, while others are held at the monasteries. Reserve a place well in advance as they get very crowded. Some of the festivals are only held every 12 years, (such as one at Hemis) and at that time the monastery will display its greatest treasure, such as a huge thangka (a religious icon painted or embroidered on cloth).

How to Reach

1. Delhi -> Chandigarh -> Patni Top -> Srinagar -> Kargil -> Leh

2. Delhi -> Chandigarh -> Manali -> Sarchu -> Pang -> Leh

Ladakh Trekking Tips

Special permits are required for visitors going to the Nubra Valley, Pangong Tso and Rupshu. The permits are usually valid for seven days and are issued to groups of four or more travelling together.

Although the days may be quite warm, evenings tend to get very cold, even in summer, in places like Leh. So pack sufficient protective clothing, including something to keep off the cold winds, which whoosh down the mountains; they’re extremely cold. Make sure to carry some Vitamin C and aspirin tablets for the high altitude regions. The scorching sun in the day can result in sunburn, so carry a protective lotion, hat and sunglasses. While trekking, take along your own food and plenty of fluid, preferably in the form of bottled water. The entire region of Ladakh – except for parts of the Nubra Valley is very dry, and if you’re not careful, there’s a risk of dehydration.

Trekking in Himalaya

Himalayas are known as the one of the youngest mountain ranges in the world and is one of the sought after trekking regions in the world. With ice covered and the silence around, Himalayas are a perfect place for both adventure as well as relaxation.

Provisions for Himalayan Trekking

Trekking in the Himalayas is now quite enjoyable and has become comparatively easy with the development of lightweight equipment and clothing and a booming tourist network. There are difficult treks as well as easy treks, long and short treks. Vehicles, helicopters and aircrafts are also available to explore the Himalayas according to one’s resources, taste and leisure time.

Trek road heads

The major trek road heads in the Indian Himalayan region include Kashmir Valley, Kishtwar, Zanskar, Ladakh, Lahaul & Spiti, Chamba and Manali.

Moving a little eastward towards the Gangetic region is the renowned Corbett National Park, which reaches the Kumaon lakes of Nanital and Bhimtal. These hill stations with neighbouring Ranikhet, Almora and the Goriganaga villages still retain the flavour of the old trails to the Pindari and Milam glaciers and the Lipulekh Pass, leading to Mansarovar.

The Trekking Season in Himalayas

Himachal offers a virtual bonanza for trekkers that range from moderate to strenuous treks, which take about 11 days and the season is June to October. Among the Garhwal and Kumaon hills of Uttaranchal the ideal trekking time is best between the months of May to October. Trekking can also be done in the winter months at lower altitudes of Kumaon region.

Costs Involved

Let us now look at the various costs involved in taking a trek at Ladakh. The things to be considered will be the cost to stay, travel and support services for the trekking. There are also some packaged tours which will take care of all the costs in one shot.

Stay & Trekking Cost

Standard Trekking Costs per person / per day for a group of 15-20 People will cost Rs 2000-2500. It includes the escort charges, food and accommodation.

A budget hotel in Ladakh may cost you anywhere from Rs 800-2000. Average price in a 3 star or above hotels will cost around Rs 3500-6500.

A deluxe room including breakfast in a 3 star or above hotel will cost around Rs 3500-6500 and including 2 meals breakfast & dinner will cost Rs. 7,500. A Royal Suite Including breakfast will cost Rs. 9,000 and including all meals breakfast, lunch & dinner will cost Rs. 11,000.

Cost for Travel by Train

If you want to go by train from Delhi, Jammu is the nearest railway station, which is about 734 km from Leh. Train charge from Delhi to Jammu is around Rs 260. Jammu to Leh via Srinagar costs about Rs. 1000/- in bus and takes more than two days by bus.

By train you can reach from Mumbai to Jammu which will cost you around Rs 504, from Chennai Rs 555, and from Ernakulam it will cost you Rs 610.

Bus tickets from Srinagar to Leh cost Rupees 370/470 on ordinary/deluxe buses. Jeep is the other option available. This costs Rs 1000 and should be booked in advance of the day of departure during peak season.

Cost for Travel by Air

Flights are available from Delhi which ranges from Rs 6500-13000. Flights from Chennai to Leh costs around Rs 9000-13500, from Mumbai to Leh costs around Rs 8500-12000, and flights from Kolkata to Leh costs around Rs 9500-11000.

From Delhi, taxis are also available which cost -  Indica (4 people) 12,000 and Qualis (6 people) 15,000.

Complete Package Costs

There are many packages given by the travel agents customized on your needs and wants. An average package for 5days/4nights from Delhi including Economy class airfare up to Leh, including air taxes, accommodation in the hotels, transfers & sightseeing in a non air-conditioned vehicle (Qualis/ Scorpio – maximum seating of 6 persons in one vehicle), sightseeing tours/ monument charges, daily breakfast & dinner, all applicable hotel /transport taxes, assistance at the airport at the time of arrival and departure, transfers from the airport to the meeting points will be arranged  and this package will cost you around Rs 16,000/- per person.

This same package (mentioned above) from Mumbai, Ahmedabad, Bangalore, Chennai and Kolkata will cost you Rs 22,000/- per person.

The trekking charges are excluded in this package.

So if trekking, high mountains, adventure and nature excite you then just plan your holiday to Ladakh which will completely refresh you and charge you and is one of the best options available in India.