Citizens' Issues
India successfully test fires ballistic missile Agni-I
Agni-I, the surface-to-surface, single-stage missile, covered 700kms distance within 9 minutes and 36 seconds
 
Balasore (Odisha): India on Monday successfully test-fired its indigenously built nuclear-capable intermediate range Agni-I ballistic missile from a test range off the Odisha coast as part of a user trial by the Army. Agni-I is capable of hitting a target 700kms away.
 
The surface-to-surface, single-stage missile, powered by solid propellants, was test-fired from a mobile launcher at 9.15am from launch pad-4 of the Integrated Test Range (ITR) at Abdul Kalam Island (Wheeler Island), a defence official said.
 
The trial, which formed part of a training exercise by the Strategic Forces Command of Indian Army, was fully successful, he said.
 
The sophisticated missile covered 700kms distance within 9 minutes and 36 seconds, they said.
 
“The launch was undertaken as part of a periodic training activity by SFC to further consolidate operational readiness,” the official said.
 
The trajectory of the trial was tracked by a battery of sophisticated radars, telemetry observation stations, electro-optic instruments and naval ships from its launch till the missile hit the target area with accuracy, they said.
 
The Agni-I missile is equipped with a sophisticated navigation system which ensures it reaches the target with a high degree of accuracy and precision.
 
The missile, which has already been inducted into the armed forces, has proved its excellent performance in terms of range, accuracy and lethality, the sources said.
 
Weighing 12 tonnes, the 15-metre-long Agni-I, is designed to carry a payload of more than one tonne. Its strike range can be extended by reducing the payload.
 
Agni-I was developed by Advanced Systems Laboratory, the premier missile development laboratory of DRDO, in collaboration with Defence Research Development Laboratory and Research Centre Imarat and integrated by Hyderabad-based Bharat Dynamics Ltd.
 
The last trial of Agni-I, conducted on 27 November 2015 from the same base, was also successful.

User

Build Your Nest Egg Smartly
The six million-odd subscribers of employee pension fund (EPF) would have breathed a sigh of relief after the EPF tax was rolled back. While the government may take its time to review and come out with a new proposal to bring parity among pension schemes, savers should look beyond EPF and the National Pension Scheme (NPS). There is no dearth of financial products available in the market. But the products highly promoted for retirement savings may not be the best suited for your needs. Many invest for tax-saving purposes under Section 80C. Some of these are excellent avenues to create a retirement corpus, but most are not. All kinds of investment products and financial outgoes are lumped together with retirement products, fetching tax benefits. This encourages the wrong kind of behaviour, such as buying pension plans of insurance companies. You need to look for other wealth creating options to build your nest egg. In our Cover Story, we take a look at products which are best suited to create your retirement corpus and those that can be avoided.
 
Undoubtedly, stocks should form a part of your retirement portfolio. But how do you pick high-quality stocks? R Balakrishnan outlines the features of quality stocks in his column on page 22. Vijay Mallya’s bad loans, of over Rs7,000 crore, are just a fragment of the estimated Rs8 lakh crore bad loans of Indian banks, overall. But Mr Mallya’s lifestyle made him stand out and the whole issue of bad loans and crony capitalism has suddenly become fodder for prime-time television. Sucheta, in her Crosshairs column, looks back and highlights how Mr Mallya consistently manipulated the system and got away, until now.
 
On 5th March, the finance minister Arun Jaitley announced that an expert group would be set up to look into the issue of consolidating public sector banks (PSBs). This is not a new idea. But the question Sucheta raises in her Different Strokes section is: When will we see some action? As always, please do keep writing in. We look forward to your feedback. 
 

User

Fortnightly Market View: FII’s Inject Booster Dose
Does it put a floor on the market for now?
 
Two weeks ago, the market was down to...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)