Nation
Indian PSLV rocket lifts off with 104 satellites
Indian rocket Polar Satellite Launch Vehicle (PSLV) on Wednesday morning lifted off successfully with a record 104 satellites, including the country's earth observation satellite Cartosat-2 series.
 
The PSLV-XL variant rocket standing 44.4 metre tall and weighing 320 ton tore into the morning skies at 9.28 a.m. with a deep throated growl breaking free of the earth's gravitational pull.
 
The earth observation satellite Cartosat-2 series weighs 714 kg.
 
The co-passenger satellites comprise 101 nano satellites, one each from Israel, Kazakhstan, The Netherlands, Switzerland, the UAE and 96 from the US, as well as two nano satellites from India.
 
The total weight of all the satellites carried on-board is about 1,378 kg.
 
By the 28th minute of the rocket's mission all the 104 satellites would be put into orbit.
 
The PSLV rocket is a four stage/engine rocket powered by solid and liquid fuel alternatively.
 
"The Cartosat satellite is the fourth one in the Cartosat-2 series of earth observation satellites. Already three are in the orbit and two more will be launched. Once all the six Cartosat-2 series satellites are launched the Cartosat-3 series would begin," an ISRO official told IANS preferring anonymity.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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COMMENTS

Hariram D. Purohit

2 months ago

Give me information about insurance sector.

Decline in food inflation is positive in the Indian economy
Headline CPI (consumer price index) inflation dipped to 3.2% in January led by large dip in food inflation caused again by drops in prices of vegetables and pulses. On the other hand, core inflation increased on the back of higher fuel prices. It is believed that headline retail inflation could move up over the next few months, probably clawing back to the 5% zone by the end of FY18, according to a research note from IDFC Bank. The current prognosis of Headline WPI (wholesale price index) inflation therefore, is unlikely to provide further scope for the RBI (Reserve Bank of India) to turn dovish.
 
The decline in food inflation was led by lower prices of certain food items such as vegetables and pulses. While vegetable prices declined by 4.7% month-on-month compared with 11.7% mom decline in December, pulses prices dropped by 5.5% mom compared with a decline of 1.7% in December. On a year-on-year basis, vegetable prices declined 15.6%, compared with a 14.6% decline in December. While a part of the drop is attributable to seasonal factors, demonetisation possibly had also played a part with lower currency availability leading to lower off-take from the farm gate.  The only category within food which is seeing some upward pressure is sugar. 
 
Core inflation at 5.1% was higher than the December print of 4.9%.  Thus, the RBI was probably justified in highlighting that the sticky core could be a principal worry in the medium term.  As expected, the increase in core was led by transport & communication index which showed an uptick on the back of increase in retail price of petrol and diesel. With oil prices sustaining at current levels, some pass-through of higher fuel prices will be visible in the economy, pointed out the research note.
 
From an inflation targeting mandate, the RBI is intended on moving inflation to a durable level of 4%, concludes the research note.

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How can we reach 4% CPI?
Inflation based on consumer price index (CPI) eased significantly to an all-time low (new series 2012) of 3.17% in January 2017 against 3.41% in previous month. At the same time, core CPI remains sticky at 5.08%. However, to achieve CPI at 4%, service inflation like medicines, doctor's fee, bus or train fare, mobile charges, charges for cable TV connection, and tuition fees need to be reduced, says a research note.
 
In the report, State Bank of India (SBI) says, "Our estimates show that (to achieve CPI at 4%) there has to be a decline in services inflation by 86 bps. The contribution of doctor’s fee, bus fare, and tuition fees will have to decline by more than 100 bps. For example, doctor’s fee contribution has to decline by 161 basis points from the current levels. The decline will have to be larger if food prices rise from current levels. The moot point is it feasible or desirable?"
 
 
Due to favourable base effects and low consumption demand, the Monetary Policy Committee (MPC) is expecting CPI inflation below 5% by March 2017. "In the last policy when MPC retained its 5% CPI target by March 2017 and reduced its gross value added (GVA) target, we submitted our doubt that RBI projection for March 2017 might not be correct. We have many times reiterated in our research reports that March 2017 inflation will be in the range of 4.2-4.4%. We now see March 2017 CPI below 4%," it added.
 
SBI says, even as we debate the CPI trajectory, the good thing is that demonetisation fears seem to have faded and the original perception appears to have faltered us all in gauging the extent of impact especially in FMCG products or day to day essential products. It says, "Performance in sectors such as diamond and broking is surprising. While some capital intensive sectors appear to have been impacted, sectors such as steel, fertilisers, cables, petrochemicals, edible oil and agrochemicals seem to have weathered the demonetisation storm better than earlier perceived."
 
From the 2014 listed entities, sans bank, finance and refineries, who declared their result for the third quarter (Q3) of FY2017, SBI says it observed growth of 4.8% in top line while earnings before interest, taxes, depreciation, and amortization (EBDITA) and profit after tax (PAT) grew by 18.1% and 26.6% respectively as compared to Q3FY16.
 
 
According to the research note, non-ferrous metals, broking, diamond, gems and jewellery, steel, cables, agro chemicals, and healthcare have recorded double digit growth in top line whereas sectors such as telecom, constructions, fertilisers, retail, and power generations recorded double digit negative growth during the same period. 
 
Sugar, fertilisers, cables, petrochemicals, edible oil, and agro chemicals have recorded better growth number in PAT while IT hardware, paper, capital goods electricals equipment, glass products, engineering, logistics, online media, and consumer durable have recorded double digit negative growth in PAT during the same period.
 
"Further with the push for housing and lower interest rate regime consumer sentiment is positive and we believe consumption related sectors such as consumer durable, FMCG, automobile, cement, and steel will deliver better numbers in coming quarters," the report from SBI concluded.

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