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In news:

India conducted its first anti-satellite (ASAT) missile test successfully destroying a low earth orbit satellite in space by using a missile. The satellite downed by the ASAT missile was Microsat-R,an imaging satellite which was launched into orbit on January 24, 2019 using a Polar Satellite Launch Vehicle (PSLV).

In brief:

The test was carried out from the APJ Abdul Kalam Island in Odisha and the interceptor was a three-stage missile with two solid rocket boosters. ASAT missile was a modified exo-atmospheric interceptor missile of the Ballistic Missile Defence (BMD). The missile travelled a distance of almost 300 km from earth and hit the target within three minutes of its launch. The test places India in a select group alongside the US, Russia and per India’s understanding, the test does not violate any international law or treaty obligation and is much less harmful than the Chinese ASAT test in 2007 that led to a large-scale scattering of debris in space that threatened other satellites. Debris that is generated will decay and fall back to the
earth within weeks.
Anti-satellite weapon systems are missile-based systems to attack moving satellites. They have a long history and were a product of the Cold War hostilities between the United States and the Soviet Union. India – U.S. pact to ease MNC’s compliance

In news:

An Inter-Governmental Agreement for exchange of Country-by-Country (CbC) reports of multinational companies regarding income allocation

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