Finance Minister Nirmala Sitharaman said on Saturday (May 16) the government will provide a level playing field for private companies in satellites, launches, and space-based services.
The Indian Space Research Organisation (ISRO) has brought a lot of laurels to the country.
“However, the private sector is also doing a lot of work in the arena now. We want the Indian private sector to be a co-traveller in India’s space sector journey,” she said during a press conference here along with Minister of State for Finance Anurag Thakur.
Sitharaman said there will be liberal a geo-spatial data policy for providing remote-sensing data to tech-entrepreneurs.
“We will provide a predictable policy and regulatory environment to private players. They will be allowed to use ISRO facilities and other relevant assets to improve their capacities.”
In the field of atomic energy, she said a research reactor will be established in the public-private partnership (PPP) model for the production of medical isotopes.
This will enable the use of irradiation technology for food preservation to complement agricultural reforms and assist farmers.
Earlier this week, Prime Minister Narendra Modi announced a cumulative package of ₹20 lakh crore, nearly 10 per cent of the GDP, to provide relief to an economy battered by the coronavirus lockdown imposed since March 25.
While this included March 27 announcement of ₹1.7 lakh crore package of free foodgrains and cash to poor for three months and RBI’s ₹5.6 lakh crore worth of monetary policy since March, the government in three tranches over the last three days announced a cumulative package of ₹10.73 lakh crore.
The government cash outgo is limited to a maximum of ₹18,500 crore on free foodgrain and affordable housing to migrant workers as well as limited tax relief.
(With input from agencies.)