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Obama finally calls Manmohan Singh, discusses Indo-US ties

Obama has already spoken to 15 world leaders, including the Pakistani President.

TIME FOR INDIA: Obama has already spoken to 15 world leaders, including the Pakistani President.

US president-elect Barack Obama called Prime Minister Manmohan Singh on Wednesday morning and discussed the Indo-US relationship.

Obama reportedly told Singh that the two countries can work together in many area.

“We need to give strength to Indo-US relations. The Indo-US strategic ties are very important,” Obama told Singh.

PMO sources said Singh congratulated Obama on his historic victory and said his success would be an inspiration for the oppressed people all over the world.

The Prime Minister also said that the relationship between India and the US was “very good” but “we should not be satisfied with the status quo”.

Singh conveyed his best wishes for the success of the Obama administration in meeting challenges that face the world.

The Prime Minister also invited Obama and his wife Mitchelle to visit India, the sources said.

Obama praised Singh’s contribution to the progress of India as Finance Minister earlier and the Prime Minister now.

Obama had reportedly called Singh on Saturday too but the Prime Minister could not take the telephone call from the US president-elect as he was travelling.

“I got a call on Saturday but could not take it as I was travelling,” Manmohan Singh had said on Monday on board his special aircraft while returning home from a two-nation visit to the Gulf.

Obama has already spoken to 15 world leaders, including Pakistani President Asif Ali Zardari, after his election.

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November 12, 2008 Posted by | Business, General, Politics, USA Related, World News | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Chandrayaan-1 beams pictures of earth

The first image taken by Chadrayaan -1 shows the northern coast of Australia

India’s moon mission seems to be on track, now Chandrayaan-1 beams back its first pictures of earth.

The pictures were taken on October 29 by the Terrain Mapping Camera (TMC) on board the spacecraft after it was switched on.

The first image taken by the TMC at 8 am on October 29 from a height of 9,000 km shows the northern coast of Australia. The second image, taken at 12.30 pm from a height of 70,000 km, shows Australia’s southern coast.

The Prime Minister Manmohan Singh was yesterday shown the first pictures sent by India’s maiden unmanned scientific mission to Moon.

Indian Space Research Organisation (ISRO) Chairman G Madhavan Nair met Singh in New Delhi yesterday afternoon and briefed him on the lunar mission launched on October 22.

Nair showed Singh the first pictures taken by the TMC, one of the 11 payloads on Chandrayaan,
depicting the northern and southern coasts of Australia.

During the meeting, Singh expressed happiness on the significant milestone in space programme and congratulated Nair and his team for the successful mission.

The TMC was successfully operated on Wednesday through a series of commands issued from the Spacecraft Control Centre of ISRO Telemetry, Tracking and Command Network at Bangalore.

The Indian Deep Space Network at Byalalu on the outskirts of Bangalore received the first images which were processed by Indian Space Science Data Centre.

“The images confirm excellent performance of the camera,” a top ISRO official said.

Nair briefed Singh about the launch sequence and subsequent manoeuvering of the spacecraft to reach the final lunar orbit. The health of the spacecraft is good and all operations so far have been implemented as planned, he said.

November 1, 2008 Posted by | General, Science, Technology | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Banks safe, but economy may slump: PM

Manmohan Singh says tackling inflation remains goverment's priority.

HIS ECONOMIC ADVICE: Manmohan Singh says tackling inflation remains goverment’s priority.

Indians banks are safe and depositors need not worry for their money, Prime Minister Manmohan Singh has told Parliament for the first time after the worldwide financial crisis.

“Our banks, both in the public sector and in the private sector, are financially sound, well capitalised and well regulated. There should be no fear of a failure of any bank,” Singh said in the Lok Sabha on Monday.

“I wish to assure depositors in our banks that their deposits are entirely safe.” Singh, however, warned that the economy might slow down.

“The financial storm has shaken confidence in the system and precipitated a steep decline in stock markets. It has produced a sharp slowdown in economic activity, with the prospect of a prolonged recession in industrialised countries,” he said.

There is enough capital, but “nevertheless, we must be prepared for a temporary slowdown in the Indian economy”.

Singh said the precise impact of the global financial crisis was difficult to estimate but the economic slowdown in developed countries is likely to have an “indirect impact” on the Indian economy.

Some estimates projected GDP growth to reduce to 7.5 per cent in the current year, but “our effort will be to minimise the negative effect of the financial crisis… to return to the growth trajectory of 9 per cent.”

The Prime Minister said the Reserve Bank of India (RBI) and the Government were carefully monitoring the flow of credit and would ensure that the additional liquidity infused into the system translated into actual credit.

“We will not hesitate to do more, if needed. While the capital adequacy ratios of all our banks are well above the Basel norm and above the RBI stipulated norm, government has promised that it will help banks, which have lower ratios, to access funds to increase the capital risk-weighted asset ratio to 12 per cent,” he said.

October 20, 2008 Posted by | Business, General, Politics | , , , , , , , , , , , , , , , | Leave a comment