India Launches First Lunar Mission

Well, hopefully in a few more days there should be a stream of information and pictures arriving from the near vicinity of the Moon.

Good job India and your partners.

Kind Regards....

From the India Economy Watch:

India's rupee fell to a six-year low as the benchmark equity index slid below 10,000 for the first time since June 2006, stoking concern capital outflows will quicken. The currency completed a 10th weekly loss. The rupee in part dropped on concern measures taken by global central banks and governments won't be enough to stave off the credit crisis.

The currency fell back 0.8 percent this week to 48.8825 a dollar at the 5 p.m. close in Mumbai. That is the lowest since June 2002. The currency's 10-week losing streak is the longest since December 2005. The rupee has fallen 19.4 percent this year, the most since a balance-of-payments crisis in 1991 forced the nation to pawn its gold with the International Monetary Fund to pay for imports. It is poised for the first annual loss since 2005 as overseas investors pulled out almost two-thirds of the record $17.2 billion they invested in Indian equities in 2007.

Not a criticism, just something to notice...

Good comment but other side of coin—

Rupee was strengthen in last 18months by about 10%, which were hurting exporters badly.

So in a way it's a blessing in disguise, it will discourage imports and encourage exports.

Does any country have more poor people than India? I realize there are poorer nations, but they have less population. I was getting at the point that this is an extremely ambitious project for a country that has many people going hungry. The more people there are living in poverty, the more people will be negatively impacted by an economic downturn. The rich can better afford it...

It depends upon how you think. Today it cost us USD 80mn tomorrow it may cost 800mn.Who knows by that time we may be denied this right as it was done in the case nuclear Energy.

Opportunity cost is not apparent.

Don't forget 5years delay (1974 VS 1969) in nuke test denied us nuclear technology for 33 year continuously. Thanks to pokhran-2 that pulled us back.

Remember china conducted its first test in 1969 and India in 1974. Just 5years of delay excluded India from nuclear weapon states.

At last but not least rich and poor have equal right to exercise his money so long he is exercising it with his own will.

Sure, the money can be spent as the holder of it sees fit. And India is an independent nation that holds its own elections, so if the people don't want the money spent in a given way, it should be their call. I just hope the lowest income levels aren't hurt by the program.

I just hope the lowest income levels aren't hurt by the program.

In addition to bringing pride and prestige, I would argue that India's space program will benefit the entire nation by accelerating the growth of academic research, industrial development, and consumer technology. It will inspire more students to major in technical fields, and stimulate the economy (thereby also increasing the tax base available for social safety nets). Just as JFK's Apollo program did for the U.S. Although Kennedy was partly motivated by rivalry with the Soviets, it seems very clear that the U.S. space program brought huge benefits to our economy and technological base.

Technological advancement may increase investors confidence in the nation. Seems like an idea. Also, India is trying to develop a science/industrial and service/industrial complex. They have agriculture to employ and most of their service jobs can be done though digital communications, but they also have a lot of great engineers that keep leaving the country because they have nothing to do their and all the equipment is in other countries. They are working on genetic engineering projects to feed the hungry and clean water projects, but they can only employ so many people.

Congratulations to the people of India!

I've always admired India as the world's largest democracy, birthplace of Vendantic and Buddhist wisdom, and great source of math and science talent. Also, I've been impressed by the open-mindedness and friendliness of many Indians I've met in the U.S.

One more thing: I'm cheering for Vishy Anand in the World Chess Championship. With his current 5-2 lead, it looks like he will successfully defend his title. He is brilliant, a true gentleman, and another reason for Indians to feel proud.

Thank you,

You are always welcome here.

Regards.

Hi,

cheers!!!!!!!!!!

He (Vishy) has done it. (6.5-4.5.)/11

Hi,

Cheers!!!!!!!!!!

He (Vishy) has done it. (6.5-4.5.)/11

Congratulations!

It's an enormous step in the technology what surely will pay the efforts back.