Robotic surgery facility makes debut at AIMSS Chamiyana
Sukhvinder Singh Sukhu
on Monday inaugurated the state's first robotic surgery facility and witnessed the first operation performed using this advanced technology at the
Atal Institute of Medical Super Specialties
, Chamiyana in Shimla.
He reviewed the hospital's functioning in a meeting with staff and assured full govt support for strengthening the institute. He announced the creation of new departments, recruitment of lab technicians and dialysis technicians, and allocation of Rs 11 crore for the construction of a hostel. A high-end 3-Tesla MRI machine will also be installed soon, he added.
Sukhu announced Rs 23 crore for setting up an in-house automated lab at Chamiyana. Sukhu said the govt is investing over Rs 3,000 crore in modern healthcare technology, replacing outdated machines, including the 20-year-old MRI machine at IGMC Shimla.
A resident of Khalini in Shimla, suffering from a prostate-related ailment, became the first patient to undergo robotic surgery in the state.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
25 minutes ago
- Economic Times
SpaceX gets billions from the government, gives little to nothing back in taxes
ANI SpaceX's Axiom-4 mission SpaceX, Elon Musk's rocket and satellite internet company, has received billions of dollars in federal contracts over its more than two-decade existence. But SpaceX has most likely paid little to no federal income taxes since its founding in 2002 and has privately told investors that it may never have to pay any, according to internal company documents reviewed by The New York Times. The rocket maker's finances have long been secret because the company is privately held. But the documents reviewed by the Times show that SpaceX can seize on a legal tax benefit that allows it to use the more than $5 billion in losses it racked up by late 2021 to offset paying future taxable income. President Donald Trump made a change in 2017, during his first term, that eliminated the tax benefit's expiration date for all companies. For SpaceX, that means that nearly $3 billion of its losses can be indefinitely applied against future taxable income. Tax experts consulted by the Times said that not having to pay $5 billion in federal income taxes was substantial and notable for a company that has relied on contracts with the U.S. government to an unusual degree. SpaceX works closely with the Pentagon, NASA and other agencies, giving it a vital role in national security. In 2020, federal contracts generated almost 84% of the rocket maker's revenue, according to the documents, a figure that had not been previously reported. Larger tech companies -- including some that have taken advantage of the tax benefit -- often pay billions in federal income taxes. Microsoft, for one, said it expected to pay $14.1 billion in federal income taxes in its last fiscal year. SpaceX can use the tax benefit even if its business thrives. By one measure of corporate profitability, the company had roughly $5 billion in earnings from its core operations last year, up from $2.6 billion in 2023, according to what the company has privately told some stakeholders. Danielle Brian, the executive director of the Project on Government Oversight, a group that investigates corruption and waste in the government, said the tax benefit had historically been aimed at encouraging companies to stay in business during difficult times. It was "quaint" that SpaceX was using it, she said, as it "was clearly not intended for a company doing so well." Musk has built SpaceX into one of the world's most influential companies, which dominates the space industry through its rockets and its Starlink satellite internet service. It has been a jewel in the crown of his business empire and an essential source of his wealth and power, along with his electric vehicle company, Tesla. It has also given Musk a perch on the world stage, allowing him to weigh in on geopolitics. Like many tech startups, SpaceX lost money as it plowed billions of dollars into building its business. Uber, Amazon, Tesla and other tech firms were also not profitable for years. As SpaceX has grown, the firm has been valued at more than $350 billion, crowning it one of the world's most valuable private companies, according to startup tracker PitchBook. Several news organizations have reported on aspects of SpaceX's finances, which the company discloses to its investors and other stakeholders. But the documents reviewed by the Times -- including income statements and balance sheets covering 23 years -- offered new insight into SpaceX's revenue sources, investors and taxes. SpaceX appears to have paid some income taxes over the years, though likely not to the federal government, according to the documents. In one document, the company said it expected to pay $483,000 in income tax to foreign governments and $78,000 in state income tax in 2021. Separately, it reported paying $6,000 for income taxes in 2020 and 2021, but did not disclose if the payments were for federal, state or local governments. SpaceX and Musk did not respond to requests for comment. Musk has often trumpeted SpaceX's role in carrying out missions for NASA and other agencies. In June, he proudly posted on social media that the company had reached a milestone, as its "commercial revenue from space will exceed the entire budget of @NASA next year." Musk, who left his role as a close adviser to Trump in late May, founded SpaceX with the goal of shuttling humans to Mars and colonizing the Red Planet. He owned 44% of the company as of 2022, according to the documents. Getting to Mars is an expensive endeavor, and SpaceX's losses piled up from the start. In its first year of operation in 2002, the company lost about $4 million, the documents show. The next year, it lost $14.5 million. Those losses ballooned in subsequent years, reaching $341 million in 2020. In 2021, it lost $968 million. All the while, Musk and Gwynne Shotwell, the president of SpaceX, pushed the company to grow. It began developing and testing Starship, a reusable rocket that Musk hopes will one day reach Mars. By the end of 2021, SpaceX had accumulated almost $5.4 billion in tax losses, according to the most recent figure in the documents. Those losses generated the tax benefit, known as a net operating loss carryforward. It enables SpaceX to avoid federal income taxes on an equivalent amount of future taxable income. The benefit is available to all companies, including startups that lose money for years before turning a profit. In one document, SpaceX told investors that it was "more likely than not that some portion or all of the deferred tax assets will not be realized," meaning it might never pay taxes. The company cited, among other things, its past losses. Such language can be common for companies with a history of losses, and this outlook can be revised if their finances improve, said Robert Willens, an accounting analyst who runs his own firm. SpaceX also benefited from a sweeping package of tax cuts Trump signed in 2017. One change was eliminating a 20-year limit on the use of tax-loss carryforwards, meaning that losses generated after 2017 no longer expired. That change allows SpaceX to apply nearly $3 billion in carryforwards indefinitely. In addition, the company had $227 million in carryforwards that could offset state income taxes, the documents show. It had more than $1.1 billion in other federal and state tax credits. "Given the size of its net operating loss, the company almost surely didn't pay any federal tax for years," said Gregg Polsky, who teaches tax law at New York University School of Law. "And it's so large, it's unlikely it has paid taxes even if it has had positive taxable income in recent years." The tax benefits may have come in handy in recent years as SpaceX's finances have improved, at least by one measure. The company has privately said its earnings before interest, taxes, depreciation and amortization nearly doubled to roughly $5 billion last year from 2023. That figure, known as EBITDA, is one way of measuring corporate profits but is not the same as the bottom line and does not mean that SpaceX is paying taxes. Starting in the mid-2000s, SpaceX began landing hundreds of federal contracts, including one with NASA to deliver cargo to the International Space Station and another with a U.S. intelligence agency for $1.8 billion to provide spy satellites. Some contracts are expected to generate substantial revenue for years, according to the documents. The documents, reviewed by the Times, provide the first insights into how heavily SpaceX depends on federal contracts. In 2020, they generated about $1.4 billion, or 83.8%, of the company's total revenue that year. The next year, federal contracts brought in about $1.7 billion, or 76%, of the total revenue, the documents show. Musk said in June that he expected SpaceX's revenue to reach $15.5 billion this year. That is up from about $7.4 billion in 2023, the documents show. (Revenue includes sales of the company's products.) A big part of that growth stems from Starlink, which has 6 million subscribers, according to the company. The documents showed that SpaceX told investors that Starlink had 2.5 million users in 2023 and generated roughly $8 billion in revenue last year, more than double the previous year's revenue and outpacing SpaceX's rocket division in both years. The documents do not include SpaceX's net profits or losses for the past two years. The Wall Street Journal reported that the company generated $55 million in profit on $1.5 billion in revenue in the first quarter of 2023. Companies can simultaneously report profits to shareholders and tax losses to the IRS in any given year because of the differences in how certain items are treated. To fund SpaceX, Musk has relied on longtime investors such as Fidelity and Google and friends such as Antonio Gracias, who is also a SpaceX board member. The documents reviewed by the Times identified others who had not been publicly associated with the company. A company called AI RT SPX Holdings is listed as an investor on a 2020 document. It appears to be affiliated with Access Industries, an investment firm founded by Len Blavatnik, the billionaire investor who was born in Ukraine and raised in Moscow and made his fortune in the privatization era in the 1990s after the Soviet Union collapsed. Now a British and American citizen, he has become a prolific philanthropist and investor in American and European companies. The document was signed by two Access executives, including Blavatnik's brother Alex Blavatnik. It is unclear whether Access Industries remains a SpaceX investor. Through a spokesperson, Blavatnik declined to comment. Chris Anderson, the entrepreneur who is the head of the organization behind TED Talks, appears to have invested in SpaceX through a company called Excalbians. He did not respond to requests for comment. Musk has delivered several TED Talks in the past.
India.com
27 minutes ago
- India.com
Indias Most Affordable Electric SUV Gets Faster Charging And New Colours
2025 Tata Punch EV Details: Tata Motors has rolled out two major updates for the Punch EV, India's most affordable electric SUV. The first one is new colour options. It receives two new colour schemes - Pure Grey and Supernova Copper. Existing colour options continue, including Fearless Red, Empowered Oxide, Daytona Grey, Seaweed and Pristine White. Updated Charging System Another significant upgrade is in its charging system, which now supports faster charging. The now charges at a rate of 1.2C, enabling customers to charge their EV from 10 percent to 80 percent in just 40 minutes and add 90 km worth of range in 15 minutes, using a 50kW DC fast charger. No other changes have been made to the vehicle. Battery Options Tata Punch EV continues to offer two battery options, a 25kWh and a 35kWh, with a claimed range of 315km and 421km (MIDC range), respectively. For home charging, the 3.3kW and 7.2kW chargers are available. The Punch EV LR variants generate 122 hp and 190Nm, while the Standard variants produce 82hp and 114Nm of torque. Key Features 10.25-inch Infotainment display by Harman Wireless Android Auto and Apple CarPlay Wireless smartphone charger 10.25-inch digital instrument cluster 360-degree camera Blind spot monitor Leatherette seats Ventilated front seats – app suite Powered ORVMs with auto fold function Air purifier with AQI display Auto-dimming IRVM Front and rear centre armrest Keyless entry and go Leather-wrapped steering Sunroof 3 drive modes Hill descent control Electronic parking brake with autohold LED projector headlamps with follow me home function Front fog lamps with cornering function Sequential indicators 16-inch diamond-cut alloy wheels Tata is currently priced between Rs 9.99 lakh and Rs 14.44 lakh (ex-showroom). While MG Windsor EV and Comet EV are top competitors of Punch EV, the Nexon EV and Tata Tiago EV are also among its popular rivals.
Indian Express
27 minutes ago
- Indian Express
Top 10 countries of origin of foreign-born billionaires in the US (2025): India surpasses Israel
Top 10 countries of origin for America's foreign-born billionaires 2025: The world has nearly 3,000 billionaires across 78 countries. Their combined net worth is $16.1 trillion, and about one-third of them live in the United States. The U.S. has been a centre for wealth migration. Forbes reports that the number of foreign-born billionaires in the country has reached a historic peak of 125, coming from 41 different countries. About 14 per cent of the billionaires in America are foreign-born and collectively hold wealth worth $1.3 trillion. Notably, among the world's wealthiest individuals, three of the top ten billionaires are foreign-born — Elon Musk, the world's richest person, was born in South Africa; Sergey Brin, co-founder of Google, originally is from Russia; and Jensen Huang, co-founder and CEO of Nvidia, is from Taiwan. The number of Indian-born billionaires in America has jumped from 5 in 2022 to 12 in 2025, making India the top country of origin for foreign-born billionaires, exceeding Israel. Jay Chaudhry, founder and CEO of cybersecurity firm Zscaler, leads the group, ranking eighth with a net worth of $17.9 billion (Rs 17,900 crore, approximately). The 2025 list also features several high-profile additions, including Alphabet CEO Sundar Pichai, Microsoft CEO Satya Nadella, and Nikesh Arora, CEO of Palo Alto Networks since 2018. Nearly two-thirds of the 125 foreign-origin billionaires in the United States identified by Forbes were born in these 10 countries and territories.
