Prithvi-II missile successfully test-fired

satheeshmankulamk@outlook.com (Agencies)
June 2, 2017

Balasore, Jun 2: India today successfully test-fired its indigenous developed nuclear-capable Prithvi-II missile from a test range in Odisha as part of a user trial by the Army.

prithvi

The trial of the surface-to-surface missile, which has a strike range of 350 km, was carried out from a mobile launcher from launch complex-3 of the Integrated Test Range (ITR) at Chandipur near here at around 9.50 am, official sources said.

The trial of the sophisticated missile was successful and the mission objectives were met, they said.

The Prithvi-II missile is capable of carrying 500 kg to 1,000 kg of warheads and is thrusted by liquid propulsion twin engines. It uses advanced inertial guidance system with manoeuvring trajectory to hit its target with precision and accuracy.

The state-of-the-art missile was randomly chosen from the production stock and the entire launch activities were carried out by the specially formed strategic force command (SFC) and monitored by the scientists of the Defence Research and Development Organisation (DRDO) as part of training exercise, a DRDO scientist said.

"The missile trajectory was tracked by the DRDO radars, electro-optical tracking systems and telemetry stations located along the coast of Odisha," the sources said. Teams on board the ship deployed near the designated impact point in the Bay of Bengal monitored the terminal events and splashdown.

In salvo mode, two Prithvi-II missiles were successfully test fired in quick succession from the same base, on November 21, 2016.

Inducted into Indian armed forces in 2003, the nine-metre-tall, single-stage liquid-fuelled Prithvi-II is the first missile to have been developed by the DRDO under the Integrated Guided Missile Development Programme.

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News Network
March 5,2025

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The number of Indian high-net-worth individuals (HNWIs), those having assets more than $10 million, rose 6 per cent last year to 85,698, according to Knight Frank.

Global property consultant Knight Frank on Wednesday released its 'The Wealth Report 2025', which estimated the HNWI population in India at 85,698 in 2024, as against 80,686 in the preceding year.

The number is expected to rise to 93,753 by 2028, reflecting India's expanding wealth landscape, the consultant said.

The increasing trend of HNIW population highlights the country's strong long-term economic growth, increasing investment opportunities, and evolving luxury market, positioning India as a key player in global wealth creation.

India's billionaire population has also seen a strong year-on-year growth in 2024.

"India is now home to 191 billionaires, of which 26 joined the ranks in just the last year, which was pegged at just 7 in 2019," the consultant said.

The combined wealth of Indian billionaires is estimated at $950 billion, ranking the country third globally, behind the US ($5.7 trillion) and Mainland China ($1.34 trillion).

"India's growing wealth underscores its economic resilience and long-term growth potential. The country is witnessing an unprecedented rise in high-net-worth individuals, driven by entrepreneurial dynamism, global integration, and emerging industries," Shishir Baijal, Chairman & Managing Director, Knight Frank India, said.

This expansion is not just in scale but also in the evolving investment preferences of India's elite, who are diversifying across asset classes, from real estate to global equities, he added.

"In the decade ahead, India's influence in global wealth creation will only strengthen," Baijal said.

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News Network
February 26,2025

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The Indian government is developing a 'Universal Pension Scheme' to provide pension benefits to all citizens, including those in the unorganised sector, according to sources. 

Key Features of the Proposed Scheme:

Inclusivity: Targets unorganised sector workers—such as construction workers, domestic staff, and gig workers—who currently lack access to large government-run savings schemes. 

Voluntary Participation: Open to all citizens aged 18 and above, including salaried employees and the self-employed. Participation is voluntary, with no mandatory government contributions. 

Streamlined Framework: Aims to consolidate existing pension and savings schemes, offering a unified and secure option for all citizens.

Complementary to Existing Schemes: Will not replace the National Pension System (NPS) but will serve as an additional option. 

Current Pension Schemes:

Atal Pension Yojana (APY): Provides a monthly pension of ₹1,000 to ₹5,000 after the investor turns 60, requiring regular contributions. 

Pradhan Mantri Shram Yogi Maandhan (PM-SYM): Benefits unorganised sector workers like street vendors and domestic workers, offering a monthly pension of ₹3,000 post-retirement.

Pradhan Mantri Kisan Maandhan Yojana: Designed for farmers, providing ₹3,000 monthly after the investor reaches 60 years of age.

The government plans to initiate stakeholder consultations once the proposal document is finalized.

This initiative reflects the government's commitment to enhancing social security and ensuring financial stability for all citizens in their retirement years.

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