svādhyāyaḥ - daily recitation of Veda, this is considered prayer that produces punya. Nowadays we can include dharma śāstra and vedanta study since we are not trained for veda recitation.
tapaḥ - practising various disciplines at the body level backed by a control of the sense organs. It is going to be elaborated in 17th chapter.
ārjavam - alignment between the mind, word, and action or absence of crookedness. It is speaking of what one thinks and doing what one says. And this becomes complete when combined with satya and rta, where one has the value in constantly ensuring what one thinks is right in addition to speaking of what one believes is right.
ahiṃsā - absence of hurting any living being, including animals and plants. It also can be extended to environment.
satyaḥ - speaking truth, is as important as pleasing and beneficial. We have a mandate to speak only truthful - satya. But while doing so, we may say something hurtful. So, we are enjoined to say what is pleasant - priya. And while it is important to say what is pleasant, it should not be at the cost of truthfulness. It should not be false - anrta. What is satya and even priya may also sometimes be useless. Therefore try not to use words that do not serve any purpose.
akrodhaḥ - absence of anger, but Sankarācārya defines akrodhaḥ here as resolution of anger. This implies an acknowledgement of the existence of anger. Anger comes from anguish arising from unfulfilled expectations. Without permission, it takes place. Therefore managing expectation is important in the same time recognising the emotion when it comes, and try not to express it. And how to resolves it, can vary from person to person.
tyāgaḥ - outgrowth of the result of action. One performs action as a thing to be done only for the purpose of purity of the mind. Sankarācārya defines it as sannyāsa. Whether we physically renounce the world, or living in the society with the spirit of tyāgah, there is absence of ownership and attachment.
śāntiḥ - resolution of the mind, which usually is translated as peace.
There are three types of śānti. One śānti is where there is no thinking whatsoever, which can be induced through meditation or sleep. This śānti which is freedom from thinking, can only be temporary and requires a lot of inducements. This śānti is that which is there between two thoughts or between two spells of agitation. Another śānti is when you enjoy a śānti along with a certain capacity to manage an active mind. This is important because you need the mind in order to think. There is a certain distance between yourself and the mind, whatever be the situation. And because of this you are able to manage your affairs with a certain amount of composure. And the third śānti is moksha, where the mind becomes a privilege. Whatever the mind is, it is me, but I am not the mind. This knowledge is the freedom, total freedom. You do not control the mind. You do not take the mind somewhere. Rather, wherever the mind goes, the person always has this knowledge. Therefore śānti here should be the second type, as the value which should be cultivated by a sadhaka.
apaiśunam - not talking about the defects of others, looking for problems and then exaggerating them and presenting them out of context / gossiping.
dayā bhūtesu - compassion towards another being who is suffering or in pain of any kind. One should always be active in expressing one’s dayā, because passive dayā is useless to the person who is suffering. It also being expressed in our daily prayer, “lokāḥ samastāḥ sukhino bhavantu” - may everyone be happy.
aloluptvam - absence of longing in the presence of desirable sense objects. It is one thing to be unmoved in the absence of objects, but quite another to remain so in their presence.