Forty Years Ago, July 1, 1979: Defence Packagehttps://indianexpress.com/article/opinion/editorials/forty-years-ago-july-1-1979-defence-package-5807976/

Forty Years Ago, July 1, 1979: Defence Package

Demonetisation of Rs 100 notes was widely rumoured in New Delhi on June 30. Anxious enquiries poured in from Bombay too. The possibility of such a step by the government to contain the price spiral and bring out black money could not be discounted.

The government announced a package of decisions to improve the terms and conditions of service of the members of the three armed forces.

The government announced a package of decisions to improve the terms and conditions of service of the members of the three armed forces. These include a longer tenure of service for jawans, airmen and sailors, broadening avenues of promotion for jawans, NCOs, JCOs and commissioned officers of the rank of majors and squadron leaders, and liberalisation of “two years” rank rule benefiting the armed forces personnel in the matter of pension, rehabilitation and welfare measures In March last, Defence Minister Jagjivan Ram had announced that in order to deal with problems of congestion in the ranks of majors and squadron leaders, a special exercise had been undertaken to devise appropriate and urgent solutions for these and some related problems.

Demonetisation

Demonetisation of Rs 100 notes was widely rumoured in New Delhi on June 30. Anxious enquiries poured in from Bombay too. The possibility of such a step by the government to contain the price spiral and bring out black money could not be discounted. The present situation is such that palliatives like credit squeeze or controls would not do. The government cannot escape further increases in prices of coal and petroleum products. In these circumstances, demonetisation of Rs 100-rupee notes would substantially curtail liquidity of money in circulation. However, the measure could pose a tremendous administrative task for banking agencies.

Indigenous Satellite

A completely indigenous satellite, “Apple”, will be launched in the middle of the next year, according to the Indian Space Research Organisation (ISRO) chairman S Dhavan. In a congratulatory message on the completion of the two-year Satellite Telecommunications Experiments Project (STEP) in Ahmedabad, Dhavan said the experiment had been an important landmark in satellite communications.