Reforms in space sector: Private space tech companies can now use ISRO's facilities

New Delhi, May 16: Finance Minister Nirmala Sitharaman unveiled the finer details of the fourth tranche of the Rs 20 lakh crore special economic package.

The announcements will focus on structural reforms in new sectors, where growth is possible and employment is generated, the FM said, adding that many sectors need policy simplification and that once a sector is decongested it can be boosted for growth and jobs.

Speaking about the reforms in the space sector, the FM announced the following the measures to increase involvement of private sectors

''To provide private players with a level field, the government has allowed the private sector to use ISRO's facilities. The government has aimed to make predictable policy for private players to make them co-travellers for Atma Nirbhar Bharat,'' Sitharaman said.

Predictable policy and regulatory environment for private sector, future outer space travel to be opened up for private sector.

A lot of geo-spatial data available, liberal geo-spatial data policy will be brought in

As announced the Prime Minister Narendra Modi earlier, the stimulus to revive the Indian economy hit by coronavirus is being released in several tranches. Equivalent to 10% of India's GDP, the economic package includes both fiscal and liquidity measures to make India self-reliant under the 'Aatmanirbhar Abhiyan'.