February 24, 2024

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Delighting finance buffs

Covid-19 lokdown: Centre opens space sector for private players in its 4th economic package

Finance Minister Nirmala Sitharaman on Saturday announced giving the private sector a role in India’s space programme, including in satellites, launches and space-based services.

Finance Minister Nirmala Sitharaman (File photo: PTI)

Finance Minister Nirmala Sitharaman on Saturday announced giving the private sector a role in India’s space programme, including in satellites, launches and space-based services.

For boosting private participation in space activities, government will provide level playing field for private companies in satellites, launches and space-based services.

Also, the government will provide predictable policy and regulatory environment to private players, she said while announcing the fourth tranche of the economic stimulus package.

Private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities.

Future projects for planetary exploration and outer space travel would be open for private sector, she said, adding liberal geo-spatial data policy will provide remote sensing data to tech-entrepreneurs.

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