ISRO Budget 2020 allocated ₹13,479 crore for space exploration
- The government has allocated ₹13,479 towards the Department of Space.
- The bulk of the allocation continues to go towards space technology.
- The budget allocation has only increased by 8% this year.
The government has increased the allocation for the Department of Space to hit ₹13,479 crore this year. The Indian Space Research Organisation (ISRO) has ambitious plans in the near future with Chandrayaan 3, Gaganyaan, and a new port in the southern state of Tamil Nadu for small satellite launch vehicles (SSLVs).
This is an 8% increase over last year. And a bulk of the allocation is towards space technology.
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In order to pull off projects like Chandrayaan 3 and others, the space agency needs more resources. The technology required to build these complex systems costs money. Accordingly, space technology forms the majority of its budget.
This technology also provides an additional source of revenue for the government. However, India lags behind other space agencies around the world in commercialising its technology. ISRO’s commercial arm, New Space India Limited (NSIL), plans to sell spin-off technology to create additional resources for the department of space. But that is a long way off.
The multiplier effect
Allocating more of the budget towards ISRO isn’t only beneficial for space exploration, but also for the private sector. The multiplier effect is a boon for the private sector, especially companies working on space-proven technologies.
Companies like Walchandnar Industries, Godrej Space and L&T are already working with ISRO to manufacture rocket systems. And, many more are waiting on the sidelines to join the field.
“The growing space budget must be viewed not merely as an allocation but as a seed fund,” Chaitanya Giri, an expert on space and ocean studies with Gateway House — a Mumbai-based think tank — told Business Insider.
AdvertisementFor instance, Solar Industries India invested ₹175 million in Sky Root last year — a startup working on building small rockets.
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