New Delhi: Finance Minister Nirmala Sitharaman on Saturday, under the government’s Rs 20 lakh crore economic package for the ‘Self-reliant India Movement’, announced that future projects for planetary exploration, outer space travel etc will be opened for the private sector. This will boost the participation by private sector in space activities. Also Read - Flight Time Will Become Shorter Within Two Months: Nirmala Sitharaman Explains How

“India already has the benefit of an extraordinary institution like ISRO, but now lots of private players are also coming in with innovative space technology. We will allow private players to benefit from ISRO’s assets and give them a level-playing field to boost India’s space sector further,” Sitharaman said. Also Read - What is Essential Commodities Act? What Are The Amendments? Breaking Down Nirmala Sitharaman's Speech

What does it mean? Also Read - Makhana, Turmeric Latte, Saffron: What Nirmala Sitharaman's Package Has to do With These

1) Indian private sector will be a co-traveller in India’s space sector journey.

2) This will provide a level-playing field for private companies in satellites, launches and space-based services.

3) The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities.

4) Will provide predictable policy and regulatory environment to private players.

5) Liberal geo-spacial data policy for providing remote-sensing data to tech entrepreneurs.

Further, Sitharaman also gave massive reform boost to mining, defence, civil aviation and power distribution sectors. Besides, viability gap funding has been provided for the creation of social infrastructure like hospitals, while PPP model has been proposed for the country’s space programme.