New Delhi: The government has proposed an allocation of Rs 12,543.91 crore to the Department of Space for year 2023-24.
The allocation is for the Department of Space and other organizations under it like the Indian Space Research Organisation (ISRO) and its centers, Indian National Space Promotion and Authorisation Centre – the regulator for the private sector space players – and others.
As per the Demands for Grants document, the allocation for the Department of Space for FY24 stands at Rs 12,543.91 crore, up from the revised estimates of Rs 10,530.04 crore for FY23.
The capital outlay for space research for FY24 stands at Rs 6,356.81 crore (RE FY23 Rs 4,553.15 crore).
The NewSpace India Ltd – the commercial arm of the Department of Space – will get Rs 1 crore. The company had got an equity infusion of Rs 900 crore in FY22.