India's manned space mission in December 2021: ISRO

Agencies
January 11, 2019

Bengaluru, Jan 11: India's maiden manned space mission 'Gaganyaan' is set for December 2021 launch and is likely to include a woman astronaut, Indian Space Research Organisation Chairman K Sivan said Friday.

Gearing up for the mission, announced by Prime Minister Narendra Modi, the ISRO has set up a new centre to facilitate the manned voyage involving a three-member crew, he said.

"We have put everything in place. Gaganyaan has highest priority for 2019. We are planning to have first unmanned mission in December 2020 and second for July 2021. Once we complete this the manned mission will happen in December 2021. The entire team is geared up to achieve this target," Sivan said.

The Union Cabinet gave its nod for the Rs 9,023 crore programme recently, he said, briefing reporters about the achievements of the city-headquartered ISRO in the previous year and the future programmes.

In his Independence Day address last year, Modi had announced that the mission would be undertaken by 2022 using ISRO's own capabilities.

"We have resolved that by 2022, when India celebrates 75 years of Independence or maybe even before that, certainly some of our young boys and girls will unfurl the Tricolour in space," he had said in his speech from the ramparts of the Red Fort 

To a question, the ISRO chief said, "We want women astronauts also should be there. That is our aim. In my opinion, we have to train both men and women. The PM has told brother and sister (boys and girls). We will be happy to do that... but it involves training and other things." 

He said a major expansion was in the offing with the launch of Gaganyaan.

"There are two aspects to Gaganyaan -- engineering and human. This is a major expansion because it is not only launching human into the space but a space station. Human programme is a major turning point," Sivan said.

He said the objective of the mission is to carry a three-member crew to low earth orbit and return them safely to a predefined destination on earth.

Sivan said ISRO had launched the Human Space Flight Centre to take care of all the things related to the manned space programme.

The centre will have senior scientist Unnikrishnan Nair as its director while the project director would be Dr R Hutton, the ISRO chief said.

He said the crew members for Gaganyaan would be from India and include one from the Indian Air Force.

Gaganyaan initial training will be in the country but advanced training might be abroad, maybe in Russia, Sivan said.

On successful completion of the mission, India would become the fourth nation in the world to achieve the feat, he said.

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Agencies
July 6,2020

The Covid-19 pandemic has made an unprecedented impact on the Indian businesses, particularly small and medium enterprises (SMEs) and startups. According to a joint survey by FICCI and Indian Angel Network (IAN), the pandemic has hit the businesses of around 70% startups.

With uncertainty in the business environment and an unexpected shift in priorities of the government as well as corporates, many startups are struggling to survive, it says.

In a nationwide survey on the 'Impact of Covid-19 on Indian Startups' involving 250 startups, 70% participants said their businesses had been impacted by Covid-19 and around 12% had shut operations.

The survey shows only 22% startups have cash reserves to meet the fixed cost expenses over the next 3-6 months, and 68% are reducing operational and administrative expenses.

Around 30% of the companies said they would retrench employees if the lockdown was extended too long. The 43% startups have already started 20-40% salary cuts over April-June.

Over 33% startups said investors had put the investment decision on hold and 10% said the deals had been scrapped. Only 8% startups had received funds as per the deals signed before Covid-19 outbreak, the survey revealed.

The reduced funding has forced startups to put a hold on business development and manufacturing activities, which has resulted in loss of projected orders.

The survey highlights the need of an urgent relief package for startups, including possible purchase orders from the government, tax relief and swifter tax refunds, and immediate fiscal support measures, including grants, soft loans and payroll grants.

Besides 250 startups, 61 incubators and investors also participated in the survey.

While 96% of investors accepted that their investments in startups had been impacted by Covid-19, 92% said their investments in startups would continue to be low over the next six months.

Around 59% investors said they would prefer to work with the existing portfolio firms in the coming months. Only 41% said they would consider new deals.

"A comparison of priority investment sectors before and during Covid-19 shows 35% investors are now looking at investments in healthcare startups, followed by EdTech, AI/Deep Tech, FinTech and Agri," said the survey.

Around 44% incubators surveyed said their day-to-day operations had been considerably hit by Covid-19. Most incubators are now supporting their portfolio firms by providing them virtual platforms to interact with mentors, investors and industries.

Dilip Chenoy, FICCI Secretary General, said, "The startup sector is stressed for survival at the moment. The investment sentiment is also subdued and is expected to remain so in the coming months. Lack of working capital and cash flows may lead to major layoffs over the next 3-6 months."

Indian startups needed an enabling ecosystem and flow of funds to continue operations, the survey said.

Padmaja Ruparel, President, Indian Angel Network & Co-Chair of FICCI Startup Committee, said, "In these uncertain times, as investors, we must play an important role to provide the Indian startups funding, mentoring and hand-holding support to stay afloat and come out at the other end of this crisis."

To that end, IAN recently announced a debt fund to help IAN portfolio companies raise working capital and ensure business continuity by partnering with debt providers.

This must be replicated on a wider scale, so a larger number of startups are provided the capital support to make it during these tough times, Ruparel said.

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Agencies
March 7,2020

New Delhi, Mar 7: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4.

Another condition pertains to a maximum of four members are permitted in a consortium, and the lead member must hold 40 per cent in proportion. Other members of the consortium must have a minimum $1 billion net worth.

The EOI allows changes in the consortium within 45 days, though the lead member cannot be changed.

The GoI proposes to disinvest its entire shareholding in BPCL comprising 1,14,91,83,592 equity shares held through the Ministry of Petroleum and Natural Gas, which constitutes 52.98 per cent of BPCL's equity share capital, along with the transfer of management control to the strategic buyer (except BPCL's equity shareholding of 61.65 per cent in Numaligarh Refinery Limited (NRL) and management control thereon).

The shareholding of BPCL in NRL will be transferred to a Central Public Sector Enterprise operating in the oil and gas sector under the Ministry and accordingly is not a part of the proposed transaction.

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Agencies
March 14,2020

New Delhi, Mar 14: Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.

Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.

Additionally, road cess on petrol was raised by ₹1 per litre each on petrol and diesel to ₹10.

The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices.

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