Cabinet approves a new In-Space Centre

On June 24, 2020, the Union Cabinet chaired by PM Modi approved space sector reforms that will boost the private participation.

IN-SPACe Centre

Indian Space Promotion and Authorisation Centre has been newly created. The centre will provide level playing field for the private companies to use Indian Space infrastructure.

Also, the Centre will guide the private industries through encouraging policies and friendly regulatory environment.

New Space India Limited

The New Space India Limited (NSIL) will re-orient space activities. Currently the space activities are in “supply driven” mode. They are to be re-oriented into demand driven mode. This will help to ensure optimum utilization of space assets.

Significance

The step will help India boost its space achievements. India has sent 104 satellites in one go. Also, India has completed 6 years of its mars mission and the on-going Gaganyaan and Chandrayaan-3 are some of the best examples of India’s growth in the space sector.

Background

The Finance Minister Nirmala Sitharaman had earlier announced that India will allow private players to share the assets of ISRO. This was announced when the minister announced the economic package for Atma Nirbhat Bharat Abhiyan.

Month: Current Affairs - June, 2020