Sea trials of India's first indigenous aircraft carrier kick off

by Argus News

New Delhi, Aug 4: Sea trials of India's first indigenous aircraft carrier, which will be reincarnated as INS Vikrant once it is commissioned, finally kicked off on Wednesday.

The Indian Navy said that it was "proud and historic day for India" as the reincarnated Vikrant sails for her maiden sea trials, in the 50th year of her illustrious predecessor's key role in victory in the 1971 war.

It also stated the indigenous construction of the aircraft carrier is a shining example in the nation's quest for 'AtmaNirbhar Bharat' and 'Make in India Initiative'.

With building of the indigenous aircraft carrier, India joins select group of nations having niche capability to indigenously design, build, and integrate a state of art aircraft carriers.

Vikrant, designed by Indian Navy's Directorate of Naval Design (DND), is being built at the Cochin Shipyard Ltd (CSL), a public sector unit under the Ministry of Shipping.

A leading example of the nation's quest for AtmaNirbhar Bharat with more than 76 per cent indigenous content, it is the maiden attempt of the Indian Navy and Cochin Shipyard to indigenously design and build an aircraft carrier.

It is 262 m long, 62 m at the widest part and has a height of 59 m, including the superstructure. There are 14 decks in all, including five in the superstructure.

The ship has over 2,300 compartments, designed for a crew of around 1,700 people, including specialised cabins to accommodate women officers.

Designed with a very high degree of automation for machinery operation, ship navigation and survivability, Vikrant has a top speed of around 28 knots and cruising speed of 18 knots with an endurance of about 7,500 nautical miles.

It can accommodate an assortment of fixed wing and rotary aircraft.

Most of the ship construction activities have been completed and the ship has entered the trials phase. Readiness of ship's propulsion and power generation equipment and systems was tested in harbour as part of Basin Trials in November 2020.

Progress of construction of the carrier was reviewed by Defence Minister Rajnath Singh during his visit to the ship on June 25 this year.

Though the commencement of sea trials was delayed due to the second wave of Covid, they have now begun with concentrated and dedicated efforts of large number of workmen, original equipment manufacturers, engineers, overseers, inspectors, designers and the ship's crew, who had put their heart and soul towards the ship's readiness for sea trials.

This is a major milestone activity and historical event. Reaching this milestone is significant as they have been achieved barring the current pandemic challenges and imponderables, the Navy said.

During the maiden sailing, the ship's performance, including hull, main propulsion, PGD, and auxiliary equipment would be closely watched.

Work on the carrier has led to growth in indigenous design and construction capabilities besides development of large number of ancillary industries, with employment opportunities for 2,000 Cochin Shipyard personnel and about 12,000 employees in ancillary industries.

Over 76 per cent indigenous content towards procurement of equipment, besides work by Cochin Shipyard and their subcontractors is being directly invested back into the Indian economy. Around 550 Indian firms including about 100 MSMEs are registered with the shipyard.

Indian Navy's ship building programme is rightly poised to provide requisite 'Economic Stimulus', with 44 ships and submarine on order being built indigenously, the Navy said.
(IANS)

Rising crude price a fresh headache for India; RBI may hold onto rates

by Sisir Mishra

India is currently facing a lot of headwinds as regards its crude import cost. The international price of crude is heading towards 100 USD per barrel. At present, it sells 98 USD per barrel. The crude price has gone up by around 30 per cent since June this year.

There are multiple reasons for the sudden spike in crude rates. The Oil and Petroleum Exporting Countries (OPEC), including Russia and its allied countries has decided to put a squeeze on the supply.

China, after suffering from Covid-19 industrial slowdown the most, has started to increase its oil consumption. The oil consumption demand in US has also gone up. The rise in crude consumption in the US and China coupled with the decision by the OPEC to hold the crude production at the current level has threatened to push the crude rates.

India meets 85 per cent of its petroleum requirement through imports. The depreciation in rupee vis a vis US dollar may further inflate India’s oil import bill. At present, the exchange value of Indian rupee against US dollar is Rs83.

State-owned oil marketing companies (OMCs) have not revisited the rates since April 2022. The OMCs lose Rs5 for every litre of diesel that they sell while on petrol they make a profit of Rs1 only. With five states scheduled to go to polls later this year, to be followed by the General Elections in first half of 2024, the Centre is not likely to allow OMCs to increase the pump prices of fuel. But post elections, oil companies may not be restricted to raise fuel prices.

In the April-June quarter, state-owned oil firms made Rs8.60 profit on every litre of diesel they sold while they made a profit of Rs 9 on petrol. As international crude rates jumped in August and maintained the rising trend, their profits have disappeared. Since August, the crude rates have gone up by 10 USD. At present, the crude sells at 96USD.

A probable rise in fuel prices will have a cascading effect on prices of everyday consumables. The RBI maintained the repo rate (the rate at which commercial banks borrow from the RBI) and going forward, the bank may maintain its stance on the repo rate to maintain a check on the runaway rise in prices.

Any rise in the repo rate will have a deleterious impact on economic growth as a pricey interest rate will keep corporates off the banks. People will think twice before taking a credit from banks. People will cut down on their expenses –which will be a blow to economic growth.

At present, India has a comfortable position on forex. However, if the government taps onto this reserve, it will be a sure headache for the macro health of the economy.

India benefitted from the Russia-Ukrain conflict as Russia supplied crude to India at 68.17USD per barrel. However, Russia has refused to go ahead with the concessions. Last year, when international crude prices overshot 122USD per barrel, cheap oil supply from Russia insulated the country from the vagaries of the geo-political crisis.

Also Read: Business News

2.7kg Gold & Silver, Rs 26l Seized In Berhampur; Main Accused Among 4 Arrested

by Pabitra Mohan Senapaty

Berhampur, Oct 3: Police have seized gold and silver worth lakhs of rupees from a jewelry-making shop at Sana Bazaar Chhak here, informed Berhampur SP today.

Addressing a Presser, the SP said the Nimakhandi police, acting on a tip-off, conducted a raid in the shop and seized 2.728 kg of gold and silver and Rs 26,38,500 in cash. Besides, they arrested four persons in this connection.

The jewellers were melting the yellow metal to make ornaments when the police reached the spot and conducted a raid.

The arrested include the main accused Sania Gouda against whom more than 15 cases are pending at different police stations, said the SP.

Viral MMS: Did Kulhad Pizza Fame Sehaj Arora Die By Suicide? Here's The Truth

by Sabyasachi Kundu

New Delhi, Oct 3: Kulhad Pizza couple-- Sehaj Arora and Gurpreet Kaur have been in the news for the wrong reason. Sehaj and Gurpreet have been in the spotlight for some time now after an intimate video featuring them had gone viral on social media.

Most recently, there has been news of Sehaj allegedly dying by suicide.

Several videos going viral on YouTube and other platforms have claimed that Sehaj committed suicide after the private video controversy. However, he has posted a clarification, squashing all rumours.

Sehaj shared the clarification on his social media handles. “Fake news. Media is requested to not edit old interviews and run them. Dear public don’t trust any kind of interview,” the post reportedly read.

An intimate video of Sehaj Arora and Gurpreet Kaur reportedly went viral on social media platforms.

In the viral video, the couple was seen in a compromising position. However, the couple claimed that the video was fake and generated using artificial intelligence (AI).