General Affairs
Work Begins At Kudankulam Nuclear Power Plant's Unit 3
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Construction work at Unit 3 of Kudankulam Nuclear Power Plant in Tamil Nadu started today. The project, in collaboration with a Russian company, is likely to be completed in a little over six years. The total cost of Unit 3 and Unit 4 -- each with a capacity to produce 1,000 megawatt or MW -- is Rs. 39,894 crore.
"This moment -- the pouring of first concrete -- marks the starting point of the nuclear power plants' units construction period that is defined in the contractual obligations," said Andrey Lebedev, ASE Engineering Company JSC Vice-President for nuclear projects in South Asia.
The Nuclear Power Corporation of India Limited has partnered with the Russian company to build the nuclear plant.
"This event marks the commencement of full-scale construction, thermal and electrical work at the KKNP site and the installation of Russian equipment there," Mr Lebedev said.
ASE Engineering Company JSC is a part of Rostam, the Russian counterpart of India's Department of Atomic Energy. On June 19, the Atomic Energy Regulatory Board allowed the Nuclear Power Corporation of India for "pouring of first concrete" for Unit 3 and Unit 4.
On June 1 in Saint Petersburg, Russia's ASE Group of Companies and the Nuclear Power Corporation of India signed an agreement for the construction of Kudankulam nuclear power plant Units 5 and 6.
The Nuclear Power Corporation of India Limited has partnered with the Russian company to build the nuclear plant.
"This event marks the commencement of full-scale construction, thermal and electrical work at the KKNP site and the installation of Russian equipment there," Mr Lebedev said.
ASE Engineering Company JSC is a part of Rostam, the Russian counterpart of India's Department of Atomic Energy. On June 19, the Atomic Energy Regulatory Board allowed the Nuclear Power Corporation of India for "pouring of first concrete" for Unit 3 and Unit 4.
On June 1 in Saint Petersburg, Russia's ASE Group of Companies and the Nuclear Power Corporation of India signed an agreement for the construction of Kudankulam nuclear power plant Units 5 and 6.
Union Minister Venkaiah Naidu Asks Political Parties Not To Politicise GST
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Union Urban Development Minister Venkaiah Naidu today advised political parties not to politicise GST, saying the country was bound to benefit hugely from the tax initiative in the long run.
"The long-term effects of the GST will be highly beneficial for the country's economy but it may have initial, short-term negative effects on, inflation and the GDP," Mr Naidu said at a press conference in Dehradun.
Requesting people not to panic about the effects of GST, he asked them to be prepared for it.
"Except for tax evaders, no one needs to panic about GST. I want to ask people to suffer its initial effects along with us for long-term gains and benefits," he said.
The concept of a unified tax regime in the form of GST came into being during Atal Bihari Vajpayee's government and it was being brought into force after consistent hard work of 16 long years, he said.
Advising political parties not to politicise the issue, he said they should comment on it only after careful thinking.
Speaking on Dehradun's inclusion in the list of cities where the Smart City project is to be implemented, he said no city could become a Smart City overnight.
It is a long-term project which requires a minimum of five to ten years to implement, the Union minister said. He said only those cities would get more funds now which reform, perform and transform.
"Surat in Gujarat got Rs. 600 crore because a number of reforms were carried out there including construction of a Ring Road.
"Similarly, revenue of Hyderabad rose from Rs. 765 crore to Rs. 1,035 crore as GIS mapping was done there," he said, adding all towns and cities should reform in the same way. The Centre has a budgetary allocation of Rs. 10,000 crore for urban reform, he said.
"The long-term effects of the GST will be highly beneficial for the country's economy but it may have initial, short-term negative effects on, inflation and the GDP," Mr Naidu said at a press conference in Dehradun.
Requesting people not to panic about the effects of GST, he asked them to be prepared for it.
The concept of a unified tax regime in the form of GST came into being during Atal Bihari Vajpayee's government and it was being brought into force after consistent hard work of 16 long years, he said.
Advising political parties not to politicise the issue, he said they should comment on it only after careful thinking.
Speaking on Dehradun's inclusion in the list of cities where the Smart City project is to be implemented, he said no city could become a Smart City overnight.
It is a long-term project which requires a minimum of five to ten years to implement, the Union minister said. He said only those cities would get more funds now which reform, perform and transform.
"Surat in Gujarat got Rs. 600 crore because a number of reforms were carried out there including construction of a Ring Road.
"Similarly, revenue of Hyderabad rose from Rs. 765 crore to Rs. 1,035 crore as GIS mapping was done there," he said, adding all towns and cities should reform in the same way. The Centre has a budgetary allocation of Rs. 10,000 crore for urban reform, he said.
Railway Minister Suresh Prabhu's 'Eid Gift' To The Kashmir Valley- Vistadome Train
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Aiming to provide a delightful travelling experience to the picturesque Kashmir valley, the Railways today announced a Vistadome train which would also serve the famous Kashmiri 'Wazwan' to the tourists. "Tourists need to enjoy the beauty of the Valley," Union Railway Minister Suresh Prabhu said. He also stated that the Kashmiri cuisine would make it to the catering list of the railways.
"The chief minister (Mehbooba Mufti) and I have talked about how to increase tourism by virtue of railways. So, we will soon start a Vistadome train because I do not think there is any other place in the whole world like Kashmir," he said.
"When people come to see the beauty of Kashmir, how will they see it sitting inside a train? So, we will launch it here. We have placed an order with our coach factories for the Vistadome train," he said.
The union minister was speaking at a function, after remotely laying foundation stones of five new halt railway stations on Baramulla-Qazigund rail section, at SKICC.
The new halt points are at Sangdan, Monghall, Ratnipora, Naidgam and Razwan.
He said Prime Minister Narendra Modi has stressed that Kashmir is very important for the government. So, this is a small gift from the railways to provide "succour" to the people of Kashmir, he said.
The Chief Miniter pointed out that five stations were needed.
"I had nothing else to give on Eid, so I thought let's make a start by these stations. Though late, I wish you Eid Mubarak and with these stations, more people will be connected. It is the start of a new life and start of a new era of development here," he added.
Mr Prabhu said the railways would start serving Kashmiri food as well as the handicrafts from the valley in the trains soon.
"The food here tastes so well and I think we cannot find it anywhere else. To let the people have the taste of the Kashmiri food, we will start serving Kashmiri food via e- catering through IRCTC," he said.
Similarly, the Kashmiri handicrafts, which are famous world over, will be e-marketed through IRCTC so that people here get employment, he said.
He said railways would help in the development and prosperity of the state.
"The biggest worry of our countrymen, Modi-led government and the state government is how to provide jobs to the people here, how to make people prosper and flourish the tourism sector in the state.
"For all this, connectivity is a must. I remember the former chief minister (Mufti Mohammad Sayeed) asked me to connect Kashmir with Delhi.
"I told him that we will not only connect Kashmir with Delhi, but also with our hearts," Mr Prabhu said.
On the occasion, Chief Minister Mehbooba requested Mr Prabhu to provide a halt station at Naina Batpora area in south Kashmir's Pulwama district, the demand made by the locals present at the function.
The union minister assured the people that the halt station would be provided.
Mr Prabhu earlier paid obeisance at the Amarnath Cave shrine and prayed for the peace in the state.
"I paid obeisance at the Amarnath Cave shrine (this morning) and prayed for the peace of the people and for the strength to the central as well as the state government to work for the betterment of the people so that Jammu, Kashmir and Ladakh becomes the best developed region in the country," he said.
"The chief minister (Mehbooba Mufti) and I have talked about how to increase tourism by virtue of railways. So, we will soon start a Vistadome train because I do not think there is any other place in the whole world like Kashmir," he said.
"When people come to see the beauty of Kashmir, how will they see it sitting inside a train? So, we will launch it here. We have placed an order with our coach factories for the Vistadome train," he said.
The new halt points are at Sangdan, Monghall, Ratnipora, Naidgam and Razwan.
He said Prime Minister Narendra Modi has stressed that Kashmir is very important for the government. So, this is a small gift from the railways to provide "succour" to the people of Kashmir, he said.
The Chief Miniter pointed out that five stations were needed.
"I had nothing else to give on Eid, so I thought let's make a start by these stations. Though late, I wish you Eid Mubarak and with these stations, more people will be connected. It is the start of a new life and start of a new era of development here," he added.
Mr Prabhu said the railways would start serving Kashmiri food as well as the handicrafts from the valley in the trains soon.
"The food here tastes so well and I think we cannot find it anywhere else. To let the people have the taste of the Kashmiri food, we will start serving Kashmiri food via e- catering through IRCTC," he said.
Similarly, the Kashmiri handicrafts, which are famous world over, will be e-marketed through IRCTC so that people here get employment, he said.
He said railways would help in the development and prosperity of the state.
"The biggest worry of our countrymen, Modi-led government and the state government is how to provide jobs to the people here, how to make people prosper and flourish the tourism sector in the state.
"For all this, connectivity is a must. I remember the former chief minister (Mufti Mohammad Sayeed) asked me to connect Kashmir with Delhi.
"I told him that we will not only connect Kashmir with Delhi, but also with our hearts," Mr Prabhu said.
On the occasion, Chief Minister Mehbooba requested Mr Prabhu to provide a halt station at Naina Batpora area in south Kashmir's Pulwama district, the demand made by the locals present at the function.
The union minister assured the people that the halt station would be provided.
Mr Prabhu earlier paid obeisance at the Amarnath Cave shrine and prayed for the peace in the state.
"I paid obeisance at the Amarnath Cave shrine (this morning) and prayed for the peace of the people and for the strength to the central as well as the state government to work for the betterment of the people so that Jammu, Kashmir and Ladakh becomes the best developed region in the country," he said.
Centre Approves Rs. 795 Crore For Drought-Hit Karnataka
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The central government on Thursday approved Rs. 795.54 crore assistance to drought-hit Karnataka.
The decision was taken in a meeting chaired by Union Home Minister Rajnath Singh in New Delhi.
"The committee approved the assistance from the National Disaster Relief Fund (NDRF) in respect of Karnataka to the tune of Rs. 795.54 crore," a Home Ministry statement said.
The committee examined the proposal based on the report of the inter-ministerial central team which visited the state.
Finance Minister Arun Jaitley and Minister for Agriculture and Farmers' Welfare Radha Mohan Singh also attended the meeting.
Karnataka Chief Minister Siddaramaiah has said the state had suffered a crop loss of Rs. 25,000 crore. It asked the Centre for a package of Rs. 4,702.54 crore to help tide over the drought.
It is estimated that some 1,000 farmers have committed suicide in Karnataka in the past few years due to crop loss and heavy debts, an official said.
The decision was taken in a meeting chaired by Union Home Minister Rajnath Singh in New Delhi.
"The committee approved the assistance from the National Disaster Relief Fund (NDRF) in respect of Karnataka to the tune of Rs. 795.54 crore," a Home Ministry statement said.
The committee examined the proposal based on the report of the inter-ministerial central team which visited the state.
Finance Minister Arun Jaitley and Minister for Agriculture and Farmers' Welfare Radha Mohan Singh also attended the meeting.
Karnataka Chief Minister Siddaramaiah has said the state had suffered a crop loss of Rs. 25,000 crore. It asked the Centre for a package of Rs. 4,702.54 crore to help tide over the drought.
It is estimated that some 1,000 farmers have committed suicide in Karnataka in the past few years due to crop loss and heavy debts, an official said.
Indian Army Should Learn From 'Historical Lessons', Says China
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China today asked India to withdraw its troops from the Donglong area in Sikkim sector as a precondition for a "meaningful dialogue" to settle the boundary issue, warning that the Indian Army should learn "historical lessons", in an oblique reference to the 1962 war.
In an unprecedented move, Chinese Foreign Ministry spokesman Lu Kang displayed a photograph of what he alleged was Indian "incursion" into Donglong area and said the dispute which is becoming a confrontation of sorts between the troops on the ground can only be settled by the withdrawal of Indian soldiers from the area.
"Since the illegal trespass happened we have lodged solemn representations with the Indian side in both New Delhi and Beijing," Mr Lu said, showing the photograph from the podium.
He said the photographs will be displayed on the Foreign Ministry's website later.
"The diplomatic channel for communication remains unimpeded. We urged the Indian side to withdraw troops back to the Indian side of the boundary immediately. This is the precondition for the settlement of this incident and also the basis for us to conduct any meaningful dialogue," he said.
Addressing the media around the same time, China's Defence spokesman Col Wu Qian rejected Bhutan's allegation that People's Liberation Army or PLA soldiers violated its territory in Donglong area, saying its troops operated on "Chinese territory" and also asked India to "correct" its "wrong doing".
"I have to correct when you say Chinese personnel entered Bhutan's territory. Chinese troops operated on Chinese territory," a Chinese defence ministry spokesman told media in Beijing.
The PLA spokesman also accused Indian troops of entering the Chinese side in Donglong area in Sikkim sector.
"They tried to stop the normal activities. The Chinese carried out appropriate responses to these activities to safeguard sovereignty and territorial integrity," the spokesman said.
"We have made it clear to the Indian side to correct their wrong doing and withdraw all personnel from Chinese territory," he said.
Bhutan yesterday said it had issued a demarche to China over the construction of a road towards its Army camp in Zomplri area of Doklam and asked Beijing to restore status quo by stopping the work immediately.
The Donglong (Doklam) is a tri-junction area near the Chumbi Valley. It is under China's control. However, Bhutan claims sovereignty over the area.
Asked about the protest lodged by Bhutan that the PLA has transgressed its territory in Donglong area as well as reports that Chinese military has destroyed bunkers of Indian army in the area, Col Wu said the PLA troops carried out "appropriate response to incursion" by Indian border guards into Chinese territory.
"The Indian border troupe personnel have entered the Chinese territory in the Sikkim sector of the India-China borders. They tried to stop the normal activities of the Chinese border defence forces in the Donglong region. We carried out appropriate responses to halt these actives to safeguard our national sovereignty and territorial integrity," he said.
The Chinese military rejected as "extremely irresponsible" Army chief General Bipin Rawat's remarks that India is ready for a two-and-a-half front war, asking him to "stop clamouring for war".
General Rawat had said that India is prepared for security threats posed by China, Pakistan as well as by internal threats.
Responding to General Rawat's remarks, Col Wu Qian said: "Such rhetoric is extremely irresponsible".
"We hope that the particular person in the Indian Army could learn from historical lessons and stop such clamouring for war," he told the media.
"Indian Army is fully ready for a two and a half front war," General Rawat had said earlier this month in interaction with news agency ANI.
In an unprecedented move, Chinese Foreign Ministry spokesman Lu Kang displayed a photograph of what he alleged was Indian "incursion" into Donglong area and said the dispute which is becoming a confrontation of sorts between the troops on the ground can only be settled by the withdrawal of Indian soldiers from the area.
"Since the illegal trespass happened we have lodged solemn representations with the Indian side in both New Delhi and Beijing," Mr Lu said, showing the photograph from the podium.
"The diplomatic channel for communication remains unimpeded. We urged the Indian side to withdraw troops back to the Indian side of the boundary immediately. This is the precondition for the settlement of this incident and also the basis for us to conduct any meaningful dialogue," he said.
Addressing the media around the same time, China's Defence spokesman Col Wu Qian rejected Bhutan's allegation that People's Liberation Army or PLA soldiers violated its territory in Donglong area, saying its troops operated on "Chinese territory" and also asked India to "correct" its "wrong doing".
"I have to correct when you say Chinese personnel entered Bhutan's territory. Chinese troops operated on Chinese territory," a Chinese defence ministry spokesman told media in Beijing.
The PLA spokesman also accused Indian troops of entering the Chinese side in Donglong area in Sikkim sector.
"They tried to stop the normal activities. The Chinese carried out appropriate responses to these activities to safeguard sovereignty and territorial integrity," the spokesman said.
"We have made it clear to the Indian side to correct their wrong doing and withdraw all personnel from Chinese territory," he said.
Bhutan yesterday said it had issued a demarche to China over the construction of a road towards its Army camp in Zomplri area of Doklam and asked Beijing to restore status quo by stopping the work immediately.
The Donglong (Doklam) is a tri-junction area near the Chumbi Valley. It is under China's control. However, Bhutan claims sovereignty over the area.
Asked about the protest lodged by Bhutan that the PLA has transgressed its territory in Donglong area as well as reports that Chinese military has destroyed bunkers of Indian army in the area, Col Wu said the PLA troops carried out "appropriate response to incursion" by Indian border guards into Chinese territory.
"The Indian border troupe personnel have entered the Chinese territory in the Sikkim sector of the India-China borders. They tried to stop the normal activities of the Chinese border defence forces in the Donglong region. We carried out appropriate responses to halt these actives to safeguard our national sovereignty and territorial integrity," he said.
The Chinese military rejected as "extremely irresponsible" Army chief General Bipin Rawat's remarks that India is ready for a two-and-a-half front war, asking him to "stop clamouring for war".
General Rawat had said that India is prepared for security threats posed by China, Pakistan as well as by internal threats.
Responding to General Rawat's remarks, Col Wu Qian said: "Such rhetoric is extremely irresponsible".
"We hope that the particular person in the Indian Army could learn from historical lessons and stop such clamouring for war," he told the media.
"Indian Army is fully ready for a two and a half front war," General Rawat had said earlier this month in interaction with news agency ANI.
Business Affairs
Starry midnight in Central Hall to welcome GST; Amitabh Bachchan, Ratan Tata to attend the launch
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It will be a starry midnight in the historic Central Hall on June 30 that will have from megastar Amitabh Bachchan to industry doyen Ratan Tata in attendance at the launch of India's most sweeping tax reform, GST.
Unlike the last midnight event held in 1997 on the occasion of golden jubilee of the Independence at a special session of Parliament, it will be a gala event at its circular -shaped hall that has been loaned for the launch of the historic reform.
Reminiscent of India's tryst with destiny on the midnight of August 15, 1947, the event will be graced by President Pranab Mukherjee and Prime Minister Narendra Modi.
Former prime ministers Manmohan Singh and H D Deva Gowda too have been invited to launch a new taxation system that is set to dramatically re-shape the over USD 2 trillion economy.
Congress party has however decided to boycott the event apparently to protest against hardship being caused to small and medium enterprises and traders. Left and TMC too are boycotting the event.
The launch event will start at 11 pm on June 30 and extend into the midnight, coinciding with the rollout of the Goods and Services Tax (GST) regime, official sources said.
Lok Sabha Speaker Sumitra Mahajan and Vice President Hamid Ansari will also be on the dias along with the President, Modi and former prime ministers.
Legendary singer Lata Mangeshkar will be among the attendees, which also includes BJP president Amit Shah and former finance minister Yashwant Sinha.
As if giving representation to regional political parties, former Punjab chief minister Prakash Singh Badal and National Conference leader Abdul Rahim Rather too have been invited.
Former GST Council chairman Sushil Kumar Modi, former finance ministers of West Bengal and Kerala Asim Dasgupta and K K Mani too have been invited.
RBI Governor Urjit Patel and his predecessors Bimal Jalan, Y V Reddy and D Subbaroa too figure in the list.
However, former RBI Governor Raghuram Rajan is not on the list.
CAG Shashi Kant Sharma and his predecessors Vinod Rai and TN Chaturvedi, CVC K V Chowdary, three Election Commissioners including CEC Nasim Zaidi, Niti Aayog vice chairman Arvind Panagariya, Metro man E Sreedharan, editor S Gurumurthy, agriculture scientist M S Swaminathan, UPSC Chairman David R Syiemlieh, CBEC chairman Vanaja N Sarna and CBDT chairman Sushil Chandra have also been invited.
Senior lawyers Soli Sorabjee, KK Venugopal and Harish Salve as also heads of industry chambers - Pankaj Patel of Ficci, Shobana Kamineni of CII and Sunil Kanoria of Assocham too are on the list of invitees.
Sources said Parliamentary Affairs Minister Ananth Kumar has written a letter to all Lok Sabha and Rajya Sabha MPs requesting for their presence.
Members of GST Council too have been invited.
A gong will be sounded at midnight to signify that GST has arrived.
The GST Bill was originally piloted by Mukherjee when he was the Finance Minister in the previous UPA regime.
The GST Council, that brings together the central and state governments, has met 17 times to thrash out how the tax will work.
Originally, the launch of GST which had been in the works for over a decade, was to be done from Vigyan Bhawan -- the largest convention centre in the national capital that has hosted majority of the meetings of the GST Council.
But the historic Central Hall was thought to be a better choice considering the importance of the new indirect tax code that unifies more than a dozen separate levies to create a single market with a population greater than the US, Europe, Brazil, Mexico and Japan put together.
GST will simplify a web of taxes, regulations and border levies by subsuming an array of central and state levies including excise duty, service tax and VAT.
It is expected to gradually re-shape India's business landscape, making the world's fastest-growing major economy an easier place to do business.
GST has been dubbed as the most significant economic reform since BJP government came to power in 2014 and is expected to add as much as 2 percentage points to the GDP growth rate besides raising government revenues by widening the tax net.
A four-rate structure that exempts or imposes a low rate of tax of 5 per cent on essential items and top rate of 28 per cent on cars and consumer durables has been finalised. The other slabs of tax are 12 and 18 per cent.
It will be a starry midnight in the historic Central Hall on June 30 that will have from megastar Amitabh Bachchan to industry doyen Ratan Tata in attendance at the launch of India's most sweeping tax reform, GST.
Unlike the last midnight event held in 1997 on the occasion of golden jubilee of the Independence at a special session of Parliament, it will be a gala event at its circular -shaped hall that has been loaned for the launch of the historic reform.
Reminiscent of India's tryst with destiny on the midnight of August 15, 1947, the event will be graced by President Pranab Mukherjee and Prime Minister Narendra Modi.
Former prime ministers Manmohan Singh and H D Deva Gowda too have been invited to launch a new taxation system that is set to dramatically re-shape the over USD 2 trillion economy.
Congress party has however decided to boycott the event apparently to protest against hardship being caused to small and medium enterprises and traders. Left and TMC too are boycotting the event.
The launch event will start at 11 pm on June 30 and extend into the midnight, coinciding with the rollout of the Goods and Services Tax (GST) regime, official sources said.
Lok Sabha Speaker Sumitra Mahajan and Vice President Hamid Ansari will also be on the dias along with the President, Modi and former prime ministers.
Legendary singer Lata Mangeshkar will be among the attendees, which also includes BJP president Amit Shah and former finance minister Yashwant Sinha.
As if giving representation to regional political parties, former Punjab chief minister Prakash Singh Badal and National Conference leader Abdul Rahim Rather too have been invited.
Former GST Council chairman Sushil Kumar Modi, former finance ministers of West Bengal and Kerala Asim Dasgupta and K K Mani too have been invited.
RBI Governor Urjit Patel and his predecessors Bimal Jalan, Y V Reddy and D Subbaroa too figure in the list.
However, former RBI Governor Raghuram Rajan is not on the list.
CAG Shashi Kant Sharma and his predecessors Vinod Rai and TN Chaturvedi, CVC K V Chowdary, three Election Commissioners including CEC Nasim Zaidi, Niti Aayog vice chairman Arvind Panagariya, Metro man E Sreedharan, editor S Gurumurthy, agriculture scientist M S Swaminathan, UPSC Chairman David R Syiemlieh, CBEC chairman Vanaja N Sarna and CBDT chairman Sushil Chandra have also been invited.
Senior lawyers Soli Sorabjee, KK Venugopal and Harish Salve as also heads of industry chambers - Pankaj Patel of Ficci, Shobana Kamineni of CII and Sunil Kanoria of Assocham too are on the list of invitees.
Sources said Parliamentary Affairs Minister Ananth Kumar has written a letter to all Lok Sabha and Rajya Sabha MPs requesting for their presence.
Members of GST Council too have been invited.
A gong will be sounded at midnight to signify that GST has arrived.
The GST Bill was originally piloted by Mukherjee when he was the Finance Minister in the previous UPA regime.
The GST Council, that brings together the central and state governments, has met 17 times to thrash out how the tax will work.
Originally, the launch of GST which had been in the works for over a decade, was to be done from Vigyan Bhawan -- the largest convention centre in the national capital that has hosted majority of the meetings of the GST Council.
But the historic Central Hall was thought to be a better choice considering the importance of the new indirect tax code that unifies more than a dozen separate levies to create a single market with a population greater than the US, Europe, Brazil, Mexico and Japan put together.
GST will simplify a web of taxes, regulations and border levies by subsuming an array of central and state levies including excise duty, service tax and VAT.
It is expected to gradually re-shape India's business landscape, making the world's fastest-growing major economy an easier place to do business.
GST has been dubbed as the most significant economic reform since BJP government came to power in 2014 and is expected to add as much as 2 percentage points to the GDP growth rate besides raising government revenues by widening the tax net.
A four-rate structure that exempts or imposes a low rate of tax of 5 per cent on essential items and top rate of 28 per cent on cars and consumer durables has been finalised. The other slabs of tax are 12 and 18 per cent.
India 7th most affected nation by Petya ransomware, says Symantec
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According to a recent report released by Symantec revealing the list of top 20 countries based on their number of affected organisations by Petya ransomware, India is the seventh most affected nation after Ukraine, US, Russia, France, UK and Germany. It is also reported to be the worst hit in Asia.
After Wannacry Ransomware that was targeting individual users, Petya ransomware is affecting organisations and is spreading using network techniques. It just needs a single fault in the network. If the Microsoft Patch has not been applied to a single machine on the network, it can easily infect other computers on the network.
According to Symantec blog, MEDoc, a tax and accounting software package, is used for the initial insertion of Petya into corporate networks. MEDoc is widely used in Ukraine, indicating that organisations in that country were the primary target. However, organisations in India are also affected. It was reported that one of the terminals at the Jawaharlal Nehru Port Trust has been impacted by the latest malware attack.
Attackers are demanding a payment of $300 worth of Bitcoins and asking users to send notification of payments to a single email address. Once the notification was received, the hacker would send 60 character code to unlock the encrypted files.
However, the user account on which victims were supposed to send notifications has been blocked and there is no way consumers can send emails to the hacker. As a result, it is being assumed that Petya is not a Ransomware but a wiper that can damage and destroy files.
It is suggested post infecting the computer, Petya ransomware waits for about an hour before rebooting the system. According to Hacker Fantastic's Twitter post, "If machine reboots and you see this message, power off immediately! This is the encryption process. If you do not power on, files are fine." And as there is no way to receive the decryption key, one should format the hard disk and reinstall all the files from the latest backup.
According to a recent report released by Symantec revealing the list of top 20 countries based on their number of affected organisations by Petya ransomware, India is the seventh most affected nation after Ukraine, US, Russia, France, UK and Germany. It is also reported to be the worst hit in Asia.
After Wannacry Ransomware that was targeting individual users, Petya ransomware is affecting organisations and is spreading using network techniques. It just needs a single fault in the network. If the Microsoft Patch has not been applied to a single machine on the network, it can easily infect other computers on the network.
According to Symantec blog, MEDoc, a tax and accounting software package, is used for the initial insertion of Petya into corporate networks. MEDoc is widely used in Ukraine, indicating that organisations in that country were the primary target. However, organisations in India are also affected. It was reported that one of the terminals at the Jawaharlal Nehru Port Trust has been impacted by the latest malware attack.
Attackers are demanding a payment of $300 worth of Bitcoins and asking users to send notification of payments to a single email address. Once the notification was received, the hacker would send 60 character code to unlock the encrypted files.
However, the user account on which victims were supposed to send notifications has been blocked and there is no way consumers can send emails to the hacker. As a result, it is being assumed that Petya is not a Ransomware but a wiper that can damage and destroy files.
It is suggested post infecting the computer, Petya ransomware waits for about an hour before rebooting the system. According to Hacker Fantastic's Twitter post, "If machine reboots and you see this message, power off immediately! This is the encryption process. If you do not power on, files are fine." And as there is no way to receive the decryption key, one should format the hard disk and reinstall all the files from the latest backup.
Indians money in Swiss banks hit record low of Rs 4500 crores
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Money parked by Indians in Switzerlands banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls. In comparison, the total funds held by all foreign clients of Swiss banks somewhat rose to CHF 1.42 trillion or about Rs 96 lakh crore (from CHF 1.41 trillion a year ago).
The total funds held by Indians directly with Swiss banks stood at CHF 664.8 million at the end of 2016, while the same held through fiduciaries was nearly USD 11 million, as per the latest data published today by the countrys central banking authority SNB (Swiss National Bank).
The total money of Indians fell by 45 per cent during 2016 to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
This included nearly CHF 377 million in form of customer deposits, about CHF 98 million owed to Indians through other banks and CHF 190 million in form of other liabilities.
The figures fell sharply across all categories last year, the SNB data showed.
The funds held through fiduciaries or wealth managers alone used to be in billions till 2007 but has been falling amid fears of regulatory crackdown.
The funds held by Indians with Swiss banks stood at a record high of CHF 6.5 billion (Rs 23,000 crore) at 2006-end, but has now come down to nearly one-tenth of that level in about a decade.
The quantum of these funds has been falling since then, except for in 2011 and in 2013 when Indians money had risen by over 12 per cent and 42 per cent, respectively.
As per the available data since 1987, the earlier lowest ever figure was recorded in 1995 at CHF 723 million.
The latest data from Zurich-based SNB comes ahead of a new framework for automatic exchange of information between Switzerland and India to help check the black money menace.
While Switzerland has already begun sharing foreign client details on evidence of wrongdoing provided by India and some other countries, it has agreed to further expand its cooperation on Indias fight against black money with a new pact for automatic information exchange from next year.
There have been several rounds of discussions between Indian and Swiss government officials on the new framework and also for expediting the pending information requests about suspected illicit accounts of Indians in Swiss banks.
The funds, described by SNB as liabilities of Swiss banks or amounts due to their clients, are the official figures disclosed by the Swiss authorities and do not indicate to the quantum of the much-debated alleged black money held by Indians in the safe havens of Switzerland.
SNBs official figures also do not include the money that Indians, NRIs or others might have in Swiss banks in the names of entities from different countries. There is a view that the Indians alleged to have parked their illicit money in Swiss banks in the past may have shifted the funds to other locations after a global clampdown began on the mighty banking secrecy practices in Switzerland. Swiss banks have also said Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong amid stepped-up efforts to check the black money menace.
On directions of the Supreme Court, India has also constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.
A number of strategies have been deployed by the government to combat the stash-funds menace, in both overseas and domestic domain, which include enactment of a new law to tackle stashing of black money abroad, amendments in the anti-money laundering Act and compliance windows for people to declare their hidden assets.
The Income Tax department had also detected over Rs 13,000 crore black money post investigations on global leaks about Indians stashing funds abroad and has launched prosecution against hundreds of entities, including those with accounts in Geneva branch of HSBC.
The taxmen had detected Rs 8,186 crore of undisclosed income against those whose names figured in the HSBC list that was obtained by India in 2011 through the French government.
Out of the total 628 cases under this list, the department got "actionable" evidence in 415 cases and assessments have been completed in 398 cases.
The Enforcement Directorate (ED) has also begun taking action, including seizure of properties, of those named in the HSBC list under a new clause in the the Foreign Exchange Management Act (FEMA).
Earlier this month, Switzerland ratified automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money even as it sought strict adherence to confidentiality and data security.
Adopting the dispatch on introduction of the AEOI, a global convention for automatic information exchange on tax matters, the Swiss Federal Council said on June 16 that the implementation is planned for 2018 and the first set of data should be exchanged in 2019.
The council, which is the top governing body of the European nation, will soon notify the Indian government about the exact date from which the automatic exchange would begin.
As per the draft notification approved by the council, the decision is not subject to any referendum -- which means there should be no further procedural delay in its implementation.
The issue of black money has been a matter of big debate in India and Switzerland has been long perceived as one of the safest havens for the illicit wealth allegedly stashed abroad by Indians.
Earlier in 2015, the money held by Indians in Swiss banks had fallen by nearly one-third to CHF 1,217.6 million (over Rs 8,000 crore).
At the end of 2015, the total funds held in Swiss banks by Indians directly stood at CHF 1,206.71 million (down from CHF 1,776 million a year ago), while the money held through fiduciaries or wealth managers was down at CHF 10.89 million (from CHF 37.92 million at 2014-end). The total stood at CHF 1,814 million at the end of 2014.
The total "amounts due to customers savings and deposit accounts" fell from CHF 425.8 million at 2015-end to CHF 376.97 million, while the money held through other banks declined from CHF 270.4 million to CHF 97.8 million (after more than doubling during the previous year).
The other liabilities of Swiss banks towards Indian clients, which include funds held through securities etc, declined from CHF 510.4 million to CHF 190 million.
As per the SNB data, the total money held in Swiss banks by all their foreign clients from across the world however rose from CHF 1.41 trillion (USD 1.45 trillion or about Rs 98 lakh crore) to CHF 1.42 trillion (USD 1.48 trillion) in 2016.
The total assets of Swiss banks in India fell from CHF 4.8 billion in 2015 to CHF 3.9 billion in 2016. This does not include any tangible assets like real estate and properties, while the amount due to Swiss banks from their customers stood at about CHF 407 million (down from CHF 570 million in 2015).
Money parked by Indians in Switzerlands banks nearly halved to 676 Swiss francs (about Rs 4,500 crore) in 2016 to hit a record low amid a continuing clampdown on the suspected black money stashed behind their famed secrecy walls. In comparison, the total funds held by all foreign clients of Swiss banks somewhat rose to CHF 1.42 trillion or about Rs 96 lakh crore (from CHF 1.41 trillion a year ago).
The total funds held by Indians directly with Swiss banks stood at CHF 664.8 million at the end of 2016, while the same held through fiduciaries was nearly USD 11 million, as per the latest data published today by the countrys central banking authority SNB (Swiss National Bank).
The total money of Indians fell by 45 per cent during 2016 to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
This included nearly CHF 377 million in form of customer deposits, about CHF 98 million owed to Indians through other banks and CHF 190 million in form of other liabilities.
The figures fell sharply across all categories last year, the SNB data showed.
The funds held through fiduciaries or wealth managers alone used to be in billions till 2007 but has been falling amid fears of regulatory crackdown.
The funds held by Indians with Swiss banks stood at a record high of CHF 6.5 billion (Rs 23,000 crore) at 2006-end, but has now come down to nearly one-tenth of that level in about a decade.
The quantum of these funds has been falling since then, except for in 2011 and in 2013 when Indians money had risen by over 12 per cent and 42 per cent, respectively.
As per the available data since 1987, the earlier lowest ever figure was recorded in 1995 at CHF 723 million.
The latest data from Zurich-based SNB comes ahead of a new framework for automatic exchange of information between Switzerland and India to help check the black money menace.
While Switzerland has already begun sharing foreign client details on evidence of wrongdoing provided by India and some other countries, it has agreed to further expand its cooperation on Indias fight against black money with a new pact for automatic information exchange from next year.
There have been several rounds of discussions between Indian and Swiss government officials on the new framework and also for expediting the pending information requests about suspected illicit accounts of Indians in Swiss banks.
The funds, described by SNB as liabilities of Swiss banks or amounts due to their clients, are the official figures disclosed by the Swiss authorities and do not indicate to the quantum of the much-debated alleged black money held by Indians in the safe havens of Switzerland.
SNBs official figures also do not include the money that Indians, NRIs or others might have in Swiss banks in the names of entities from different countries. There is a view that the Indians alleged to have parked their illicit money in Swiss banks in the past may have shifted the funds to other locations after a global clampdown began on the mighty banking secrecy practices in Switzerland. Swiss banks have also said Indians have "few deposits" in Swiss banks compared to other global financial hubs like Singapore and Hong Kong amid stepped-up efforts to check the black money menace.
On directions of the Supreme Court, India has also constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.
A number of strategies have been deployed by the government to combat the stash-funds menace, in both overseas and domestic domain, which include enactment of a new law to tackle stashing of black money abroad, amendments in the anti-money laundering Act and compliance windows for people to declare their hidden assets.
The Income Tax department had also detected over Rs 13,000 crore black money post investigations on global leaks about Indians stashing funds abroad and has launched prosecution against hundreds of entities, including those with accounts in Geneva branch of HSBC.
The taxmen had detected Rs 8,186 crore of undisclosed income against those whose names figured in the HSBC list that was obtained by India in 2011 through the French government.
Out of the total 628 cases under this list, the department got "actionable" evidence in 415 cases and assessments have been completed in 398 cases.
The Enforcement Directorate (ED) has also begun taking action, including seizure of properties, of those named in the HSBC list under a new clause in the the Foreign Exchange Management Act (FEMA).
Earlier this month, Switzerland ratified automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money even as it sought strict adherence to confidentiality and data security.
Adopting the dispatch on introduction of the AEOI, a global convention for automatic information exchange on tax matters, the Swiss Federal Council said on June 16 that the implementation is planned for 2018 and the first set of data should be exchanged in 2019.
The council, which is the top governing body of the European nation, will soon notify the Indian government about the exact date from which the automatic exchange would begin.
As per the draft notification approved by the council, the decision is not subject to any referendum -- which means there should be no further procedural delay in its implementation.
The issue of black money has been a matter of big debate in India and Switzerland has been long perceived as one of the safest havens for the illicit wealth allegedly stashed abroad by Indians.
Earlier in 2015, the money held by Indians in Swiss banks had fallen by nearly one-third to CHF 1,217.6 million (over Rs 8,000 crore).
At the end of 2015, the total funds held in Swiss banks by Indians directly stood at CHF 1,206.71 million (down from CHF 1,776 million a year ago), while the money held through fiduciaries or wealth managers was down at CHF 10.89 million (from CHF 37.92 million at 2014-end). The total stood at CHF 1,814 million at the end of 2014.
The total "amounts due to customers savings and deposit accounts" fell from CHF 425.8 million at 2015-end to CHF 376.97 million, while the money held through other banks declined from CHF 270.4 million to CHF 97.8 million (after more than doubling during the previous year).
The other liabilities of Swiss banks towards Indian clients, which include funds held through securities etc, declined from CHF 510.4 million to CHF 190 million.
As per the SNB data, the total money held in Swiss banks by all their foreign clients from across the world however rose from CHF 1.41 trillion (USD 1.45 trillion or about Rs 98 lakh crore) to CHF 1.42 trillion (USD 1.48 trillion) in 2016.
The total assets of Swiss banks in India fell from CHF 4.8 billion in 2015 to CHF 3.9 billion in 2016. This does not include any tangible assets like real estate and properties, while the amount due to Swiss banks from their customers stood at about CHF 407 million (down from CHF 570 million in 2015).
Future Reatil, Indiabulls, SpiceJet among 14 stocks that gave over 100% returns this year
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After the Indian benchmark indices witnessed a massive bull run in the first six months of 2017, as many as 14 stocks in the BSE-500 list have soared to fetch over 100 per cent returns, turning multibaggers in just a short period of time.
Leading the pack is Future Retail Ltd that zoomed over 191 per cent till date. On June 29th, 2017 the scrip was trading 0.49 per cent higher at Rs 365.40 as on 1.20 pm (IST).
The company is the retail arm of Kishore Biyani-led Future Group that operates value and lifestyle retail stores. The company posted a 17.3 per cent rise in net profit at Rs 123.05 crore for March quarter with its total revenue from operations was climbing 25.3 per cent higher at Rs 4,483 crore.
In May, Future Retail announced that it plans to set up 4,000 'neighbourhood' stores in the next 3-5 years.
Following Future Retail is Indiabulls and Avanti Feeds that have given over 189 per cent and 183 per cent respectively.
Avanti Feeds, interestingly, started off as a small business based out of Vizag. It initially catered to a niche market but has now expanded to B2B and B2C. The company is now a market leader in manufacturer of prawn and fish feed and a shrimp processor and exporter. It is continually expanding in all value chains.
Moreover with a increase of health consciousness, Avanti Feeds has successfully ensconced in the pro-health market.
Indian low-cost carrier Spice Jet , too, has outperformed in the market. SpiceJet recently made headlines as it was ranked the best performing airline stock in the world by Bloomberg Intelligence Index, gaining more than 800 per cent, creating a $1.2 billion market value.
Spice Jet has placed an order of $22-billion for Boeing planes and received praise from US President Donald Trump over the deal.
After the Indian benchmark indices witnessed a massive bull run in the first six months of 2017, as many as 14 stocks in the BSE-500 list have soared to fetch over 100 per cent returns, turning multibaggers in just a short period of time.
Leading the pack is Future Retail Ltd that zoomed over 191 per cent till date. On June 29th, 2017 the scrip was trading 0.49 per cent higher at Rs 365.40 as on 1.20 pm (IST).
The company is the retail arm of Kishore Biyani-led Future Group that operates value and lifestyle retail stores. The company posted a 17.3 per cent rise in net profit at Rs 123.05 crore for March quarter with its total revenue from operations was climbing 25.3 per cent higher at Rs 4,483 crore.
In May, Future Retail announced that it plans to set up 4,000 'neighbourhood' stores in the next 3-5 years.
Following Future Retail is Indiabulls and Avanti Feeds that have given over 189 per cent and 183 per cent respectively.
Avanti Feeds, interestingly, started off as a small business based out of Vizag. It initially catered to a niche market but has now expanded to B2B and B2C. The company is now a market leader in manufacturer of prawn and fish feed and a shrimp processor and exporter. It is continually expanding in all value chains.
Moreover with a increase of health consciousness, Avanti Feeds has successfully ensconced in the pro-health market.
Indian low-cost carrier Spice Jet , too, has outperformed in the market. SpiceJet recently made headlines as it was ranked the best performing airline stock in the world by Bloomberg Intelligence Index, gaining more than 800 per cent, creating a $1.2 billion market value.
Spice Jet has placed an order of $22-billion for Boeing planes and received praise from US President Donald Trump over the deal.
Don't worry! Aadhar-PAN linking may be possible after July 1 too
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Many taxpayers are worried about losing their permanent account number (PAN) to a government ruling. The government has ordered taxpayers to link their Aadhar number with their PAN, and this has people worried.
The move is intended to check tax evasion through multiple pan cards by linking them to respective unique 12-digit identification number of taxpayers. By far 2.07 crore have already linked their PAN to Aadhar. But there remains a lot more left and only one day to go for the linking.
But people still have more time on their hands to link their Aadhar and PAN than they think.
Sub-section (2) of Section 13 AA under Income Tax Act states, "Every person who has been allotted permanent account number as on the 1st day of July, 2017, and who is eligible to obtain Aadhaar number, shall intimate his Aadhaar number to such authority in such form and manner as may be prescribed, on or before a date to be notified by the Central Government in the Official Gazette.
Provided that in case of failure to intimate the Aadhaar number, the permanent account number allotted to the person shall be deemed to be invalid and the other provisions of this Act shall apply, as if the person had not applied for allotment of permanent account number."
It is clear from the statement that date 'on or before' which Aadhar and PAN have to be linked will be notified in the Official Gazette by the Central Government. It however states that Aadhar has to be mandatorily mentioned in the application for a new PAN and in the return of income.
With the Central Government yet to declare a definite deadline for linking Aadhar and PAN, it is safe to say that there is still time for taxpayers.
Meanwhile a PTI report quoting a senior Income Tax Department official stated that people who are not able to link their Aadhaar and Permanent Account Number (PAN) by July 1, will have the option to mention the UIDAI-provided number in the e-ITR and this will be considered a valid linking of the two unique numbers.
"It has been made abundantly clear that no PAN, which is not linked to Aadhaar, will be cancelled from July 1. However, any person who wants to e-file their ITRs will either have to have an Aadhaar number or the enrolment id to be mentioned in their ITR or prior link it over the e-filing portal of the department," a senior I-T official said
"If Aadhaar credentials are not linked with PAN or mentioned in the ITR, then such a person will not be able to e-file," the official added.
E-filing of ITR is mandatory for all individuals except whose income is less than Rs 5 lakh per annum and those who are above 80 years of age.
However, the task should ideally be completed well before the stipulated time period draws to a close because huge influx of visitors at the income tax website is likely to cause troubles in the process. Here is how you can do it :
Enter log-in ID, password and date of birth to log in. After getting in, go to your profile setting which has the option of linking your Aadhaar Card.
Generally, a pop-up window appears, prompting you to link your PAN card with Aadhaar card. Check if the details such as name, date of birth and gender appearing on screen match with those on your Aadhaar card.
Then put in your Aadhaar card number and click on the 'link now' button. If details on both the cards match, your card will be linked instantly.
Many taxpayers are worried about losing their permanent account number (PAN) to a government ruling. The government has ordered taxpayers to link their Aadhar number with their PAN, and this has people worried.
The move is intended to check tax evasion through multiple pan cards by linking them to respective unique 12-digit identification number of taxpayers. By far 2.07 crore have already linked their PAN to Aadhar. But there remains a lot more left and only one day to go for the linking.
But people still have more time on their hands to link their Aadhar and PAN than they think.
Sub-section (2) of Section 13 AA under Income Tax Act states, "Every person who has been allotted permanent account number as on the 1st day of July, 2017, and who is eligible to obtain Aadhaar number, shall intimate his Aadhaar number to such authority in such form and manner as may be prescribed, on or before a date to be notified by the Central Government in the Official Gazette.
Provided that in case of failure to intimate the Aadhaar number, the permanent account number allotted to the person shall be deemed to be invalid and the other provisions of this Act shall apply, as if the person had not applied for allotment of permanent account number."
It is clear from the statement that date 'on or before' which Aadhar and PAN have to be linked will be notified in the Official Gazette by the Central Government. It however states that Aadhar has to be mandatorily mentioned in the application for a new PAN and in the return of income.
With the Central Government yet to declare a definite deadline for linking Aadhar and PAN, it is safe to say that there is still time for taxpayers.
Meanwhile a PTI report quoting a senior Income Tax Department official stated that people who are not able to link their Aadhaar and Permanent Account Number (PAN) by July 1, will have the option to mention the UIDAI-provided number in the e-ITR and this will be considered a valid linking of the two unique numbers.
"It has been made abundantly clear that no PAN, which is not linked to Aadhaar, will be cancelled from July 1. However, any person who wants to e-file their ITRs will either have to have an Aadhaar number or the enrolment id to be mentioned in their ITR or prior link it over the e-filing portal of the department," a senior I-T official said
"If Aadhaar credentials are not linked with PAN or mentioned in the ITR, then such a person will not be able to e-file," the official added.
E-filing of ITR is mandatory for all individuals except whose income is less than Rs 5 lakh per annum and those who are above 80 years of age.
However, the task should ideally be completed well before the stipulated time period draws to a close because huge influx of visitors at the income tax website is likely to cause troubles in the process. Here is how you can do it :
Enter log-in ID, password and date of birth to log in. After getting in, go to your profile setting which has the option of linking your Aadhaar Card.
Generally, a pop-up window appears, prompting you to link your PAN card with Aadhaar card. Check if the details such as name, date of birth and gender appearing on screen match with those on your Aadhaar card.
General Awareness
ISRO’s GSAT-17 successfully launched from French Guiana
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Indian Space Research Organisation (ISRO)’s latest communication satellite GSAT-17 was successfully launched on board Arianespace rocket from Kourou in French Guiana on June 29, 2017.
More Details about GSAT-17 Launch:
GSAT-17 with a lift-off mass of about 3477 kg carried payloads in normal C-band, extended C-band and S-band to provide various communication services.
- It also carried equipment for meteorological data relay and satellite based search and rescue services being provided by earlier INSAT satellites.
- GSAT -17 was approved in May 2015 with an outlay of Rs. 1013 crore, including its launch fee and insurance.
- Designed in-orbit operational lifeof GSAT-17 is 15 years.
- This spacecraft will strengthen ISRO’s current fleet of 17 telecommunications satellites.
- GSAT-17 was sent up as the second passenger on the European booster, Ariane-5 ECA VA-238. GSAT-17’s co-passengerHellas Sat 3 – Inmarsat S EAN has two operators. Hellas Sat 3 provides direct to home television and telecom services across Europe, West Asia and South Africa. Global satellite operator Inmarsat will provide in-flight Internet facilities for European airlines, as signified in the satellite’s tag EAN or European Aviation Network.
- Operations of GSAT-17 operations were immediately taken over by the spacecraft command team at Master Control Facility (MCF) atHassan in Karnataka.
- GSAT-17 is the 21st satellite from ISRO launched by Arianespace. It is to be noted that ISRO is currently dependent on Ariane-5 rockets for carrying its heavier satellites, and is thereby testing GSLV Mk III for this purpose.
Satellites Launched by ISRO in June 2017:
GSAT -17 is the third satellite launched by ISRO this month.
- Earlier, GSLV Mk III successfully launched GSAT-19 satellite on June 5, 2017, from Satish Dhawan Space Centre, Sriharikota, Andhra Pradesh.
- PSLV-C38 successfully launched Cartosat-2 Series satellite along with 30 co-passenger satellites on June 23, 2017, also from the Satish Dhawan Space Centre.
Quick Facts about ISRO:
ISRO is the space agency of Government of India, formed with a vision to harness space technology for national development
- Formation Year: 1969
- Founded by: Vikram Sarabhai
- Headquarters: Bengaluru
- Current Chairman: A S Kiran Kumar
Indian Space Research Organisation (ISRO)’s latest communication satellite GSAT-17 was successfully launched on board Arianespace rocket from Kourou in French Guiana on June 29, 2017.
More Details about GSAT-17 Launch:
GSAT-17 with a lift-off mass of about 3477 kg carried payloads in normal C-band, extended C-band and S-band to provide various communication services.
- It also carried equipment for meteorological data relay and satellite based search and rescue services being provided by earlier INSAT satellites.
- GSAT -17 was approved in May 2015 with an outlay of Rs. 1013 crore, including its launch fee and insurance.
- Designed in-orbit operational lifeof GSAT-17 is 15 years.
- This spacecraft will strengthen ISRO’s current fleet of 17 telecommunications satellites.
- GSAT-17 was sent up as the second passenger on the European booster, Ariane-5 ECA VA-238. GSAT-17’s co-passengerHellas Sat 3 – Inmarsat S EAN has two operators. Hellas Sat 3 provides direct to home television and telecom services across Europe, West Asia and South Africa. Global satellite operator Inmarsat will provide in-flight Internet facilities for European airlines, as signified in the satellite’s tag EAN or European Aviation Network.
- Operations of GSAT-17 operations were immediately taken over by the spacecraft command team at Master Control Facility (MCF) atHassan in Karnataka.
- GSAT-17 is the 21st satellite from ISRO launched by Arianespace. It is to be noted that ISRO is currently dependent on Ariane-5 rockets for carrying its heavier satellites, and is thereby testing GSLV Mk III for this purpose.
Satellites Launched by ISRO in June 2017:
GSAT -17 is the third satellite launched by ISRO this month.
- Earlier, GSLV Mk III successfully launched GSAT-19 satellite on June 5, 2017, from Satish Dhawan Space Centre, Sriharikota, Andhra Pradesh.
- PSLV-C38 successfully launched Cartosat-2 Series satellite along with 30 co-passenger satellites on June 23, 2017, also from the Satish Dhawan Space Centre.
Quick Facts about ISRO:
ISRO is the space agency of Government of India, formed with a vision to harness space technology for national development
- Formation Year: 1969
- Founded by: Vikram Sarabhai
- Headquarters: Bengaluru
- Current Chairman: A S Kiran Kumar
