Science

Budget 2019: Antrix Corp likely to be replaced by NSIL

Budget 2019: Antrix Corp likely to be replaced by NSIL”

In a major boost to India's space research sector, Finance Minister Nirmala Sitharaman on Friday announced that the Indian Space Research Organisation (ISRO) will have a new commercial arm, New Space India Limited (NSIL), to help the Indian space agency commercialise its launch vehicle and other state of the art technologies in the global space market.

Currently, ISRO's various programs that stand to benefit from this move, include small satellite technology transfer to various industries, manufacture of small satellite launch vehicle (SLV) in collaboration with the private sector, along with productionisation of Polar SLV through the industry. "India has emerged as a major space power with the technology and ability to launch satellites and other space products at globally low cost".

The Budget Estimates for Department of Space for FY 2019-20 is Rs12,473.26 crore compared to the RE of Rs11,200 crore in FY 2018-19.

She said the new company NSIL will tap the benefits of the research and development (R&D) carried out by Indian Space Research Organisation (ISRO).

She also said that a new public sector undertaking has been opened to further harness the ability of space technologies commercially.

ISRO's annual budget has crossed Rs 10,000 crore ($1.45 billion), growing steadily from Rs 6,000 crore five years ago. The FM said that "the time has come" for India to harness its space technology commercially.

In 1961, the Government of India entrusted the responsibility for space research and for the peaceful use of outer space to the Department of Atomic Energy (DAE), then under the leadership of Dr. Homi J. Bhabha.

These functions are now performed by Antrix Corporation, a fully-owned government company which functions under the administrative control of the Department of Space.

The larger aim would be to scale up the industry participation in space programmes.

This month, ISRO is expected to test its Small Satellite Launch Vehicle (SSLV), which will be a key platform for its commercial satellite-launching services.



Like this

loading...
loading...

Latest


05 July 2019
Billionaire Chris Cline dies in helicopter crash, governor says
He had two sons and two daughters and had dated Elin Nordegren , Tiger Woods' ex-wife, after divorcing his second wife. Cline also owned a yacht called Mine Games, the report said, and a mansion in North Palm Beach, Fla.

05 July 2019
U.S. Private Sector Job Growth Reaccelerates Less Than Expected
Most of the gains came in the health care, education, professional services and trade and transportation sectors. A job-seeker completes an application at a career job fair in Philadelphia, Pennsylvania, U.S.

05 July 2019
Red Dead Redemption 2: 10 Unsolved Mysteries That Will Freak You Out
As we said in our review, Red Dead Redemption 2 is arguably "the best game of the past five years". A conspicuous video leak also showed the Red Dead Redemption 2 PC graphics menu up and running.

05 July 2019
Plane From JFK Makes Emergency Landing At Logan Airport After Cabin Fire
All 217 passengers aboard Flight 138 were safely evacuated after the Airbus A330 landed at Boston's Logan Airport about 9 p.m. Virgin Atlantic confirmed in a statement that the flight had been diverted to Boston "due to reports of smoke in the cabin".

05 July 2019
Kamala Harris Labels Trump a 'Predator Living in the White House'
Kamala Harris to go after him on his past stance on busing during the first round of 2020 Democratic primary debates . She said there's been a pattern of predatory behavior from the Trump administration.

05 July 2019
Injury Forces Shaun Marsh Out Of The Tournament
The defending champions Australia have already booked their spot for the semi-finals of this tournament. It is worth mentioning that Handscomb is now in England playing for Australia A.

05 July 2019
PlayStation Veu prices go up by $5 after recent licencing offers
As part of this commitment, from time to time, we need to make changes created to maximize value across our entire customer base. The service itself isn't changing, though Sony does note that it has plans to expand the content it offers in the near future.

05 July 2019
Nine sentenced to death for attacking Sheikh Hasina 25 years ago
The prime minister said many ask her in the global forum how Bangladesh keeps friendship with both India and China. Hasina began her visit on July 3 by taking part in the Summer Davos meeting held at the Chinese city of Dalian.

05 July 2019
Tax cuts set to benefit Aussie homeowners
Early this week, the central bank chose to cut the official cash rate again by 25 basis points to 1 %. The successful passage of the tax cuts is also a major legislative victory for Morrison.

05 July 2019
Florida man contracts flesh-eating bacteria without even touching water
If we had known to look for signs we could've stopped it. "I DID NOT have any open wounds, NOR did I swim in any water that day". Vibrio bacteria are found in coastal waters and multiply during the warm months, typically between May and October.