Economic Package | Govt allows private companies to play role in India's space exploration missions
New Delhi | Jagran News Desk: Finance Minister Nirmala Sitharaman on Saturday announced that the central government has decided to allow private companies to take part in planetary exploration and outer space travel among other space activities.
While announcing the fourth tranche of the economic stimulus package, Sitharaman said that the government will provide a level-playing field for private companies in satellites, launches and space-based services.
"The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities. Future projects for planetary exploration, outer space travel, etc. to be open for the private sector," Sitharaman said.
The Finance Minister said that the private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities.
She further said that projects for planetary exploration and outer space travel would be open for private sector while adding that liberal geo-spatial data policy will provide remote sensing data to tech-entrepreneurs.
"India already has the benefit of an extraordinary institution like ISRO, but now lots of private players are also coming in with innovative space technology. We will allow private players to benefit from ISRO's assets and give them a level-playing field to boost India's space sector further," Sitharaman said.
"There is a lot of geospatial data available in India. Currently start-ups and private companies have to go abroad, but that will now change. This is a sensitive area and will follow strict guidelines, but will make information available to start-ups and private firms," Sitharaman added.
Nirmala Sitharaman on Saturday announced the fourth tranche of the Rs 20 lakh economic stimulus package announced by Prime Minister Narendra Modi earlier this week in a bid to revive the economy that has taken a hit because of the coronavirus lockdown.
On Saturday made announcements related to eight sectors -- coal, minerals, defence production, aviation/airspace management, MRO (maintenance, repair and overhaul), power distribution companies, space, atomic energy.
(With agency inputs)
Posted By: Aalok Sensharma