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Two-wheelers Sales in the near term to be affected by Demonetisation, says rating agency ICRA

The sector achieved a 16 per cent growth during April-October period in the current fiscal

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Kolkata, Nov 16, 2016: The November 9 demonetisation is likely to dent domestic two-wheeler sales in the near term, rating agency ICRA said on Tuesday.

Restrictions on cash transactions are expected to affect the demand for the entry segment of two-wheelers which are cash-purchase driven.

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The sector achieved a 16 per cent growth during April-October period in the current fiscal.

“Rural markets account for about 60-65 percent of the entry segment motorcycle sales and given the high propensity for cash purchases in the rural markets, the entry segment of the motorcycles is expected to be a casualty,” the ratings agency said in a statement.

Favourable monsoon has been a significant trigger for healthy demand from the rural markets during the current fiscal, most of the sales have been sentiment driven. The Hharif crop sales have also commenced in October or November.

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However, the recent scrapping of high denomination notes and the consequent constrained liquidity may result in dip in realisations as well as delay in realisations of crop sales. It will cause postponement of demand for such vehicles, the agency said.

“Unavailability of adequate cash during the preparation of sowing time for next Rabi season is also likely to have a bearing on farm incomes in the next season,” it added. (IANS)

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Raja Chari: Indian American Astronaut chosen by NASA

Raja Chari, an American of Indian descent, has been chosen by NASA as one of the 12 astronauts for a new space mission.

Raja Chari. Twitter.
  • Raja Chari is an American of Indian descent chosen by NASA for the new batch of astronauts
  • Currently, he is a Lieutenant Colonel in the US Air Force
  • Chari will have to go through two years of astronaut training which begins in August

June 06, 2017: NASA has chosen 12 astronauts out of a record-breaking 18,300 applications for upcoming space missions. An American of Indian descent, Raja Chari, has successfully earned his spot in the top 12.

The astronauts were selected on the basis of expertise, education, and physical tests. This batch of 12 astronauts is the largest group selected by NASA since two decades. The group consisting of 7 men and 5 women surpassed the minimum requirements of NASA.

Born in Waterloo, Iowa, Chari graduated from Air Force Academy in 1999 with a bachelor’s degree in Astronautical Engineering and Engineering Science. He went on to complete his master’s in Aeronautics and Astronautics from Massachusetts Institute of Technology. The astronaut is also a graduate of US Naval Test Pilot School.

Currently, Raja Chari is a Lieutenant Colonel in the US Air Force. He is the commander of 461st Flight Test Squadron and director of the F-35 Integrated Test Force at Edwards Air Force Base in California.

After Late Kalpana Chawla, Lt. Col. Raja Chari is the second Indian American astronaut chosen by NASA.

The 12 astronauts will have to go through two years of training. Upon completion, they will be assigned their missions ranging from research at the International Space Station, launching from American soil on spacecraft by private companies, to flying on deep space missions on NASA’s Orion Spacecraft.

The US Vice-President Mike Pence visited the Johnson Space Centre in Houston to announce and congratulate the new batch. Pence also said that President Trump is “fully committed” to NASA’s missions in space.

by Saksham Narula of NewsGram. Twitter: @Saksham2393