Sign In
Learn bits
Science & Tech.
Mahesh

09/06/22 08:32 AM IST

New Space India Ltd.(NSIL)

In News 
  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the transfer of 10 in-orbit communication satellites from Government of India (Gol) to M/s.NewSpace India Ltd. (NSIL), a wholly owned Public Sector Enterprise of GOI under the administrative control of the Department of Space.
NSIL 
  • The Space Sector reforms mandated NSIL to undertake end-to-end commercial space activities and function as a full-fledged satellite operator.
  • NSIL functioning as a single-window operator will also facilitate the ease of doing business in space sector.
  • NSIL Board will now be empowered to price the transponders as per the market dynamics and global trends in the Satellite Communication sector.
  • NSIL is also authorized to offer and allocate capacity as per its internal policies and guidelines.
  • The Union Cabinet has also approved increasing the authorized share capital of NSIL from Rs.1000 crore to Rs.7500 crore.
Significance 
  • Transfer of these assets to NSIL will further provide the desired financial autonomy to the company to realize capital intensive programmes/ projects and thereby offering huge employment potential and technology spin-off to other sectors of the economy.
  • This approval is expected to trigger domestic economic activity in space sector and increase India's share in the global space market.
Source- PIB 

More Related Current Affairs View All

05 May

Key objectives of caste count

'The Union Cabinet has decided that the next Census will include questions on caste to its enumeration of India’s population, for the first time in almost a century. ' T

Read More

05 May

2 new genome-edited rice varieties

'Agriculture Minister Shivraj Singh Chouhan recently released two genome-edited varieties of rice, the first achievement of its kind in the country.' These two varieties, which

Read More

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps