''Mars mission is a publicity stunt'': Madhavan Nair

July 24, 2013

madhavan

Bangalore, Jul 24: India's 'Moon Man' has contested ISRO's contention that the upcoming 'desi' Mars orbiter mission would undertake meaningful research, and dubbed the Rs 450 crore venture as a "publicity stunt".

"ISRO is embarking on an extravagant mission which at best can serve as a publicity stunt", G Madhavan Nair, a former chief of the Bangalore-headquartered Indian Space Research Organisation, told PTI here.

The country was facing an acute shortage of communication transporters, noted Nair during whose tenure of six years as ISRO Chairman and Secretary in the Department of Space, 25 successful space missions were accomplished, including India's maiden moon venture Chandrayaan-I.

ISRO should have solved this issue by following the K Kasturirangan Committee recommendation, he argued.

"Even if the launch takes place, it will be yet another PSLV launch only. One has to wait nearly eight months before anything of MARS is heard. This is an issue which needs a serious review by the scientific community", Nair said.

According to him, GSLV was the vehicle identified because it could take a respectable satellite of nearly 1,800 kg. This could have provided more than a dozen instruments on board and the spacecraft would have been placed in a near circular orbit for a meaningful remote sensing mission of Mars.

"But what is the fate of the much hyped Mars Orbiter Mission (ISRO's mars mission as conceived now) - there were delays in solving the problems of GSLV so a study was undertaken see what can be done with PSLV. Nearly 1500 kg satellite can be taken to Mars, but due to fuel limitation it could at best be placed in an elliptical orbit of 380 km perigee and 80000 km apogee. No one would attempt a resource survey or mapping mission with such widely varying altitudes", Nair said.

ISRO Chairman K Radhakrishnan told PTI recently the Mars mission would undertaken meaningful research.

The primary objectives of the mission, according to ISRO, are to demonstrate India's technological capability to send a satellite to orbit around Mars and conduct meaningful experiments such as looking for signs of life, take pictures of the red planet and study Martian environment.

ISRO is going to start in August first week the assembly of PSLV-C25, the rocket on board of which the Mars orbiter would be launched any day between October 21 and November 7.

Elaborating further, Nair said though there was an initial estimate of 25 kg for the scientific instruments, on detailed analysis provision it was reduced to a meagre 14 kg.

This may further come down.

As it stands today, there could be just five instruments -- a Mars Colour camera (MCC) to take pictures of Mars; Mass Methane Sensor (MMS) to study the amount and origin of Methane on Mars; Lyman Alpha Photometer (LAP), to study the ratio of Hydrogen and Deuterium on Mars; Mars Exosphere Neutral Composition Analyser (MENCA), to study Martian atmosphere AND Thermal Infrared Imaging Spectrometer (TIS).

"Constraints on mass are likely to reduce these payloads," he said.  "With such skeletal instruments on board a spacecraft travelling at altitudes varying from 380 and 80,000 km what meaningful science can be done is a big question mark. This is exactly a case of cutting the head to suit the hat," he contended.

Nair said in Chandrayaan-I when the number of instruments had to be increased, the propulsive power of PSLV was enhanced whereas for Mars Orbiter Mission the desired rocket was not available and the spacecraft was curtailed to an insignificant size.

"Not only that, many of the sub-systems of (the proposed) Chandrayan-2 were cannibalised for the Mars Mission delaying the more meaningful Chandrayan-2.

Chandrayan-2 may take place in 2016 or beyond. China is going with similar mission to moon later this year, not to Mars," he said.

"Mission to Mars is claimed to be complex and challenging. No one familiar with orbital mechanics will appreciate this. The sequence for Mars Mission is identical from the earth's orbit. It will be catapulted on path which will reach near moon or Mars. It may take five days to Moon and eight months to Mars because of the long distance. One has to wait and watch and nothing significant needs to be done during this long wait."

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News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

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Agencies
April 14,2020

Mumbai, Apr 14: Hours after Prime Minister Narendra Modi announed extension of the coronavirus-enforced lockdown till May 3, a large number of migrant workers who earn daily wages came out on road in Mumbai on Tuesday demanding transport arrangements to go back to their native places.

Bandra in Mumbai right now. Police probing what caused such a large crowd to gather. pic.twitter.com/04H1Mnggd2

— Padmaja joshi (@PadmajaJoshi) April 14, 2020

Daily wage workers have been rendered jobless ever since the lockdown was announced late last month to stem the spread of COVID-19, making their life a constant struggle.

Though authorities and NGOs have made arrangemnets for their food, most of them want to go back to their native places to escape the hardship brought by the sweeping curbs.

Wow. Thousands of ambassadors of peace doing this at #Bandra right now. Well done @OfficeofUT, well done. The world should see this.#Covid_19 #COVIDIOTSpic.twitter.com/SdinaZXm39

— Abhijit Majumder (@abhijitmajumder) April 14, 2020

According to a police official, daily wage earners, numbering around 1,000, assembled at suburban Bandra (West) bus depot near the railway station and squatted on road at around 3 pm.

The daily wage earners, who reside on rent in slums in in the nearby Patel Nagri locality, were demanding arrangement of transport facilities so that they can go back to their native towns and villages.

They originally hail from states like West Bengal and Uttar Pradesh.

Thousands of migrants gather at Mumbai's #Bandra railway station and protested. All are migrant workers, specially from Bihar-Bangal and they wanted to go home. They had hoped trains will start today. The police is investigating the matter and says crowd has been dispersed now. pic.twitter.com/NMHfv0CEpj

— Shivangi Thakur (@thakur_shivangi) April 14, 2020

One of the labourers, who did not reveal his name, said, NGOs and local residents are providing food to migrant workers, but they want to go back to their native states during the lockdown which has badly affected their source of livelihood.

"Now, we dont want food, we want to go back to our native place, we are not happy with the announcement (extending the lockdown)," he said, looking dejected.

Asadullah Sheikh, who hails from from Malda in West Bengal, said, We have already spent our savings during the first phase of the lockdown. We have nothing to eat now, we just want to go back at our native place, the government should made arrangements for us.

This happened in bandra just minutes back ! This can be potentially dangerous. Mumbai anyways is a hotspot ! What is the @MumbaiPolice and @OfficeofUT doing ???? Did @uddhavthackeray not provide food and shelter to such migrants ? #mumbai #UddhavThackeray #Lockdown2 pic.twitter.com/AeSuqbwhyN

— Megha Prasad (@MeghaSPrasad) April 14, 2020

Another labourer, Abdul Kayyun, said I am in Mumbai for last many years but have never seen such a situation. The government should start trains to shift us from here to our native place."

Heavy police deployment was made at the protest site to tackle any untoward incident.

Personnel from other police stations were called at the spot to maintain order, the official addd.

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Agencies
July 24,2020

Mumbai, Jul 24: Reliance India Limited (RIL) on Friday overtook ExxonMobil to become the world's second most valuable energy company and 46th among the world's largest companies by market capitalisation.

RIL's market capitalisation stood at Rs 14.16 lakh crore (USD 189.3 billion) at market close on Friday. ExxonMobil's current market value is USD 184.77 billion.

"Reliance Industries, with a market capitalisation of USD 189.3 billion now is the second-most valuable energy company in the world. Reliance Industries now stands at 46th among the world's largest companies by market capitalisation ahead of well-known names like ExxonMobil, Abbott Laboratories, Oracle Corp, Chevron and Unilever Plc, and just below PepsiCo," RIL said in an official release.

RIL continued its rally on Friday, notwithstanding overall weak market conditions.

RIL shares made a new all-time high of Rs 2,163 and were last traded at Rs 2,148.8 on NSE with a gain of 4.4 per cent. The market capitalisation of fully paid-up shares stands at Rs 13.62 lakh crore (USD 182.06 billion), the release said.

Reliance partly paid-up shares gained 9.33 per cent on NSE today to last trade at Rs 1289.95. The partly paid-up shares now have a market capitalisation of Rs 0.55 lakh crore (USD 7.29 billion).

"Reliance's share price had touched a bottom of Rs 867 on March 23, 2020, when the total market value of the company stood at Rs 5.5 lakh crore or $73.5 billion. Thus, RIL has added $115.9 billion to shareholder wealth within just four months - one of the highest value creation feats in the world in such a short time," the release said.

Reliance had earlier raised Rs 212,809 crore through Rights Issue, combined investments in Jio Platforms and investment by bp.

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