"The New Space India Limited, a PSU under the Department of Space, will execute the PSLV-CS51 launch, carrying the Amazonia Satellite from Brazil, along with a few smaller Indian satellites," Finance Minister Nirmala Sitharaman said in her budget speech.
New Space India Limited has been established to tap the benefits of the Research and Development carried out by the Department of Space and the Indian Space Research Organisation (ISRO).
The company will spearhead the commercialisation of various space products including productionisation of launch vehicles, technology transfer and marketing of space products.
In Budget 2021-22, the Department of Space has been allocated ₹13,949.09 crore, of which ₹8,228.63 crore has been earmarked for capital expenditure. This is nearly ₹900 crore more than what was allocated in 2019-20 and ₹4,449 crore more than fiscal 2020-21.
In the last budget, ₹13,479.47 crore was earmarked for the DoS, but it was later revised to ₹9,500 crore. In 2019-20, the DoS was allocated ₹13,017.61 crore.
Sitharaman said as part of Gaganyaan, India's manned space mission, four Indian astronauts are being trained on Generic Space Flight aspects, in Russia.