Cabinet approves Transfer of 10 In-orbit Communication Satellites from Govt. of India to New Space India Ltd

Union Cabinet decision:

  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the transfer of 10 in-orbit communication satellites from Government of India (Gol) to M/s.NewSpace India Ltd. (NSIL), a wholly owned Public Sector Enterprise of GOI under the administrative control of the Department of Space.

  • The Union Cabinet has also approved increasing the authorized share capital of NSIL from Rs.1000 crore to Rs.7500 crore.

  • Transfer of these assets to NSIL will further provide the desired financial autonomy to the company to realize capital intensive programmes/projects and thereby offering huge employment potential and technology spin-off to other sectors of the economy.

  • This approval is expected to trigger domestic economic activity in space sector and increase India’s share in the global space market.

  • The Space Sector reforms mandated NSIL to undertake end-to-end commercial space activities and function as a full-fledged satellite operator.

  • NSIL functioning as a single-window operator will also facilitate the ease of doing business in space sector.

  • NSIL Board will now be empowered to price the transponders as per the market dynamics and global trends in the Satellite Communication sector.

  • NSIL is also authorized to offer and allocate capacity as per its internal policies and guidelines.

Important decisions taken today in the meeting of the Cabinet: Dr S Jaishankar

Dr S Jaishankar – External Affairs Minister:

Important decisions taken today in the meeting of the Cabinet: –

Transfer of 10 In-Orbit Communication Satellites from Government to New Space India ltd.

Will provide financial autonomy to the company thereby providing greater employment potential and technology spin-offs.

MSP for Kharif crops for 2022-23.

Will provide remunerative prices to the growers and encourage crop diversification.

MoU between India and USA in the health sector.

Will contribute towards development of new, improved and innovative biomedical tools and technologies to prevent & treat HIV, TB, Covid19 and other emerging infectious and neglected diseases.

MoU between ARIES, India and National Institute for Environment studies, Japan.

Will lead to joint research on air quality & climate change.

MoU between India and Australia for technical cooperation for Australia-India water security initiative.

Will reinforce bilateral cooperation in urban water security and strengthen capacities for urban water management.

MoU between SNB National Centre for Basic Sciences, India and IFW, Germany in Novel Magnetic and Topological Quantum Materials.

Will foster Indo-German collaboration, provide opportunities & facilitate advancement of knowledge in area of magnetic & topological quantum materials.

IBM India will set up an AI driven Innovation Centre in Kochi… : Pinarayi Vijayan

Pinarayi Vijayan – Chief Minister, Kerala :

  • As a boost to Govt. of Kerala’s mission to transform Kerala into a knowledge economy, IBM India will set up an AI driven Innovation Centre in Kochi in collaboration with our Industries and Higher Education Departments.

  • It expects to create 2,000 new jobs by ensuring academia-industry linkages.

RBI hikes Repo Rate by 50 basis points

PIB:

  • RBI hikes Repo Rate by 50 basis points

  • Retains GDP growth forecast at 7.2%, Inflation projected at 6.7% during FY 2022-23

  • Credit Cards, beginning with RuPay card can be linked with UPI

  • e-Mandate transaction limit increased to Rs 15,000

  • Upper limit on housing loans by Cooperative banks hiked by more than 100%

Read more:
https://pib.gov.in/PressReleasePage.aspx?PRID=1832000

Feel very happy to congratulate our exceptional Team on achieving the Guinness World Record of laying 75 Km continuous Bituminous Concrete Road… : Nitin Gadkari

Nitin Gadkari, Union Minister :

Proud Moment For The Entire Nation!

Feel very happy to congratulate our exceptional Team, National Highways Authority of India, Consultants & Concessionaire, Rajpath Infracon Pvt Ltd & Jagdish Kadam, on achieving the Guinness World Record of laying 75 Km continuous Bituminous Concrete Road in a single lane on NH-53 section between Amravati and Akola.

This 75 Km single lane continuous Bituminous Concrete Road is equivalent to 37.5 Km of 2-Lane Paved shoulder road and the team of 800 NHAI employees and 720 workers including team of Independent Consultants were involved in the job that started on 3rd June, 2022 at 7:27 AM and was completed on 7th June, 2022 at 5:00pm.

The work was completed in record time of 105 Hours and 33 Minutes. The Amravati to Akola section is the part of National Highway-53 and an important East-West corridor.

Passing through mineral rich region of our country, the section connects major cities like Kolkata – Raipur – Nagpur – Akola – Dhule – Surat.

This record was previously achieved by Public Works Authority – ASHGHAL (Qatar) on 27th February, 2019. The road was part of the Al-Khor Expressway and it had taken 10 days to complete the task.

I would specially thank our Engineers & Workers who toiled day & night to achieve this extraordinary feat.

The vision of New India is being built on your perseverance & sweat. The whole nation is proud Keep up the great work!

On World Oceans Day here are some glimpses of India’s First Manned Ocean Mission Samudrayan by Union Ministry of Earth Sciences : Dr Jitendra Singh

Dr Jitendra Singh, Union Minister :

On World Oceans Day here are some glimpses of India’s First Manned Ocean Mission Samudrayan by Union Ministry of Earth Sciences. The mission will explore ocean resources for drinking water, clean energy & blue economy.

Sri Sri at Sunrise

If you can win over your mind, you can win over the whole world:
Sri Sri

Pic Credit : Sri Sri