New Rocket Launched By ISRO

The new rocket launched today by the Indian Space Research Organization (ISRO) comes with three satellites and costs Rs 230 crores. One of the satellites - the ResourceSat-2 will help map forests glaciers, and monitor crop yields.

But is this what India really needs? Experts point out that India already has the largest constellation of 10 civilian remote sensing satellites in the world. And the government's auditor has reported that almost 90% of the photographs and images delivered by ISRO's satellites are not used. Many of these images are needed both by the government and private sector especially for development of infra-structure like roads, airports and town planning.

The report of the Comptroller and Auditor General of India (CAG) highlights that despite the abundance of data available via satellite images, a wasteland mapping project undertaken by ISRO had been delayed by 14 years. The project was to help in rural development.

The auditor has also found that the place where data from the satellites is processed - the National Remote Sensing Center in Hyderabad - is showing worrying levels of inefficiency as images are not being processed fast enough.

At a press conference today, ISRO chairman K Radhakrishnan admitted that `the findings of the CAG were one hundred percent correct.'

The criticism directed at ISRO is boosted by a comparison to two similar American remote-sending satellites - Geoeye and Digital Globe - both of which use as much 90% of all the images they collect.

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HCL Technologies

HCL Technologies , India's fourth largest software services firm, on Wednesday posted a better-than-expected 33 per cent rise in net profit for Jan-March, boosting its shares nearly 10 per cent to their highest in more than a decade.

The company reported a net profit of about Rs 4.68 billion in Jan-March, while revenue rose 31.5 per cent to Rs 41.38 billion.

Profit was expected to rise 25 per cent to Rs 4.3 billion, according to a Reuters poll of 17 analysts. Revenue was seen at Rs 40.79 billion.

Shares of the company, which the market values at $7.34 billion, rose as much as 9.8 per cent to a 11-year high of Rs 522.35, in a Mumbai market that was up 0.77 per cent. The BSE IT index was up 1.6 per cent.

At 10:15 a.m, the stock was at 7.95 per cent at Rs 513.4. HCL's business outside Europe and the Americas grew as much as 81 per cent. All its service offerings also showed strong growth of 34-43 per cent.

Net employee addition -- a key parameter of the IT sector's health -- stood at 1,153 for the period, taking the total headcount to 73,420.

HCL also said it bought certain software assets from Citibank International Plc during Jan-March for $26 million, revenues from which are expected to come from the middle of its fourth quarter this year.

Through the deal, HCL is also taking over 41 employees from Citi and an "assured revenue stream" of $135 million spread over 10 years, HCL said in a statement.

Earlier this week, Infosys Technologies Ltd , the No.2 player in the Indian IT sector, sparked worries about the sector's growth after it forecast annual sales lower than expected on slower client spending.

A slew of brokerages downgraded the target price of the Infosys shares, citing concerns over its earnings and annual forecast that came in below expectations.

Jan-March is a seasonally weak quarter, as clients generally finalise their budgets for the next fiscal during this period, leading to a spurt in spending in the first two quarters of the upcoming fiscal year.

A slight depreciation of the rupee against the dollar, making up for a dip in utilisation rates, somewhat aided HCL's core operating (EBITDA) margins for the period, improving by about 1 per centage point from the December quarter to 17.3 per cent.

The rupee weakened about half a per centage point against the dollar during Jan-March.

Indian software companies, which get most of their earnings in foreign currency, hedge some of the risk, but with a chunk of their costs being in rupees, currency appreciation tends to squeeze margins.

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Anna Hazare Fasts Unto Death Starting 5th April 2011

Anna Hazare is demanding enactment of a strong anti-corruption law - Jan Lokpal Bill - to ensure swiftness and certainty of punishment to the corrupt.

Will his fast have any impact on the deaf Government of India?

Yes, it certainly would. Because, last time when Anna sat on fast -

• 6 corrupt ministers in Maharashtra had to resign

• 400 corrupt officers were dismissed from job

• 2002 - Maharashtra RTI Act was passed

• 2006 - Central Government withdrew its proposal to amend Central RTI Act

Now Anna is fasting to demand Jan Lokpal Bill.

JAN LOKPAL BILL will act as deterrent and instill fear in the minds of corrupt people.

Salient features of Jan Lokpal Bill

Drafted by Justice Santosh Hegde, Prashant Bhushan and Arvind Kejriwal, this Bill has been refined on the basis of feedback received from public on website and after series of public consultations. It has also been vetted by and is supported by Shanti Bhushan, J M Lyngdoh, Kiran Bedi, Anna Hazare etc. It was sent to the PM and all CMs on 1st December.

1. An institution called LOKPAL at the centre and LOKAYUKTA in each state will be set up

2. Like Supreme Court and Election Commission, they will be completely independent of the governments. No minister or bureaucrat will be able to influence their investigations.

3. Cases against corrupt people will not linger on for years anymore: Investigations in any case will have to be completed in one year. Trial should be completed in next one year so that the corrupt politician, officer or judge is sent to jail within two years.

4. The loss that a corrupt person caused to the government will be recovered at the time of conviction.

5. How will it help a common citizen: If any work of any citizen is not done in prescribed time in any government office, Lokpal will impose financial penalty on guilty officers, which will be given as compensation to the complainant.

6. So, you could approach Lokpal if your ration card or passport or voter card is not being made or if police is not registering your case or any other work is not being done in prescribed time. Lokpal will have to get it done in amonth’s time. You could also report any case of corruption to Lokpal like ration being siphoned off, poor quality roads been constructed or panchayat funds being siphoned off. Lokpal will have to complete its investigations in a year, trial will be over in next one year and the guilty will go to jail within two years.

7. But won’t the government appoint corrupt and weak people as Lokpal members? That won’t be possible because its members will be selected by judges, citizens and constitutional authorities and not by politicians, through acompletely transparent and participatory process.

8. What if some officer in Lokpal becomes corrupt? The entire functioning of Lokpal/ Lokayukta will be completely transparent. Any complaint against any officer of Lokpal shall be investigated and the officer dismissed within two months.

9. What will happen to existing anti-corruption agencies? CVC, departmental vigilance and anti-corruption branch of CBI will be merged into Lokpal. Lokpal will have complete powers and machinery to independently investigate and prosecute any officer, judge or politician.

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