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Demonetisation targeted black money, fake notes: Govt

Thakur said Moody’s has not downgraded the rating of the Indian economy after 2016.

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Anurag Thakur

New Delhi, Dec 2 : The government’s move to demonetise Rs 500 and Rs 1,000 currency notes in 2016 was aimed at flushing out black money, eliminating fake currency notes, combating financing of terrorism and Left Wing Extremism, expanding the tax base by converting the non-formal economy to a formal one, generating employment, and to make India a less-cash economy.

This was stated by Union Minister of State for Finance Anurag Thakur in the Lok Sabha on Monday, in response to questions by MPs Deepak Baij and Subbarayan K.

Thakur said Moody’s has not downgraded the rating of the Indian economy after 2016.

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Starlink project takes Musk’s SpaceX valuation to $100 billion

A Morgan Stanley research note said that “the pieces are coming together for SpaceX to create an economic and technology flywheel”.

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elon musk

San Francisco, Oct 25 : Driven by its ambitious Starlink project, Elon Musk-run SpaceX has received a &100 billion valuation by US-based investment bank Morgan Stanley — from $52 billion just three months ago.

The bank’s “bull case” which is the absolute best-case scenario — puts the rocket company at a value above $200 billion, report Forbes.

The bank has raised the estimated value of Starlink to $81 billion.

While SpaceX’s launch business is valued at $12 billion, its point-to-point space travel is valued at $9 billion, describing Musk’s space business as “mission control” for the “emerging space economy.”

A Morgan Stanley research note said that “the pieces are coming together for SpaceX to create an economic and technology flywheel”.

“Investors just valued SpaceX in August, when the company raised $1.9 billion in funding — at a valuation of $46 billion” then.

Last week, SpaceX launched 60 more Starlink satellites aboard Falcon 9 rocket to be deployed in low-Earth orbit, bringing the constellation to 788 as the company gears up for a public beta of the affordable satellite broadband service.

SpaceX recently presented the Federal Communications Commission (FCC) Starlink internet performance tests, showing it was capable of download speeds of between 102Mbps to 103Mbps, upload speeds of 40.5Mbps to not quite 42Mbps, and a latency of 18 milliseconds to 19 milliseconds.

“Once these satellites reach their target position, we will be able to roll out a fairly wide public beta in the northern US and hopefully southern Canada,” SpaceX CEO Elon Musk said in a tweet earlier this month.

“Other countries to follow as soon as we receive regulatory approval,” he added.

It is expected that there will be gigabit speeds on offer, meaning up to 1Gbps Internet speeds, with a fairly low latency of up to 25ms.

Starlink plans to offer these Internet services for around $80 per month, which is priced at par if not lower than similar speed broadband plans in most countries, including India.

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World becoming fan of our local products: PM Modi

He added that previously there were massive fairs (melas) on the occasion of Dussehra…but in present times, they took on a different form.

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Narendra Modi

New Delhi, Oct 25 : Prime Minister Narendra Modi on Sunday said that since India is opting for ‘vocal for local’, many of the local Indian products have the potential of becoming globally popular and are attracting a lot of attention.

“World is becoming a fan of our local products. One such example is Khadi. Our Khadi is being known as nature friendly fabric plus its becoming a fashion statement,” said Prime Minister Narendra Modi while addressing the Mann Ki Baat programme.

The Prime Minister also said that Khadi has since a long time been a statement of “simplicity”. He added that the fabric has health benefits as its body-friendly and is also an all-weather fabric.

He said that on Gandhi Jayanti, the Khadi store in National capital’s Connaught Place witnessed a massive sale of Rs 1 crore.

The Prime Minister also asked the citizens to opt for local products while going out for shopping during the festive times. “When you go out to buy something during these festive times, remember the vocal for local,” he said.

“During the lockdown, we closely came to know about those members of society, without whom our lives would be miserable. Sanitation workers, brothers and sisters working as domestic helps, local vegetable vendors, milkmen, security guards….we have now felt the significance of their roles in our lives in a better way,” the PM said.

The PM said that during this crisis, these people were with us, now during the festivities, we shall make these people a part of our celebrations.

“I earnestly urge you to ensure, in whatever way, in making them a part of your celebrations. Treat them as members of your own family…you will see for yourself how your joy rises by leaps and bounds,” PM Modi said.

The Prime Minister also wished the nation on the occasion of Vijay Dashmi or Dusshera. “On this auspicious occasion, heartiest greetings to all of you. The festival of Dussehra is one of the triumph of truth over untruth. But, simultaneously, it is also the festival of victory of patience over crises,” he said.

“Today, all of you are carrying on with immense patience, celebrating the festival with restraint…and hence, in our ongoing fight, our victory too is assured, he said.

He added that previously there were massive fairs (melas) on the occasion of Dussehra…but in present times, they took on a different form.

The festival of Ramleela too was one of its major attractions….but now, that too has been restricted to some extent. Earlier during Navratra, the notes of Garba of Gujarat would reverberate all over….this time all grand events have been curtailed. Many more festivals are on the way in the days to come, he said.

The Prime Minister also asked the Indian citizens to think of the braveheart soldiers who are firmly stationed on our borders in line of duty. “Even during these festive time, all in service, security of Mother India. We have to light a lamp at home in honour of these brave sons, daughters of Mother India,” he said.

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Tata Motors reaches 4 mn passenger vehicle production milestone

As of today, its ‘New Forever BS6’ range consists of the Tiago, Tigor, Nexon, Harrier and the Altroz.

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Ratan Tata

Mumbai: Automobile major Tata Motors has achieved the production milestone of 4 million passenger vehicles in India since its inception.

“Over the years, Tata Motors has produced legendary vehicles like the Indica, Sierra, Sumo, Safari and the Nano that have played a pivotal role in the shaping the country in its post-economic liberalisation era,” the company said in a statement on Saturday.

“These iconic vehicles have broken barriers across categories in the Indian automobile sector. With the launch of the Tata Safari, the company pioneered the concept of a ‘lifestyle SUV’ to the industry, thereby creating the most aspirational four-wheeler for its customers.”

The company had also introduced the first ever MPV in Tata Sumo.

In the more recent past, Tata Motors launched the entry level car and the compact SUV segment with the rollout of the Tiago and the Nexon, respectively.

“Tata Motors is also India’s largest EV manufacturer with 67 per cent market share and leading the way on electric vehicle adoption in India,” the statement said.

“The company had achieved the 1 million production mark for passenger vehicles in 2005-06, 3 million in 2015 and the 4 million production milestone was achieved this month.”

As of today, its ‘New Forever BS6’ range consists of the Tiago, Tigor, Nexon, Harrier and the Altroz.

Besides, Tata Motors has been India’s first car manufacturer to have received a 5-star Global NCAP rating for its model, the Nexon.

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