The Hindu : Page 05
Syllabus : GS 3 : Indian Economy & Science and Technology
In the 2024-25 Union Budget, the Department of Space saw a slight increase in funding, focusing on technology development.
- A ₹1,000 crore venture capital pool for space start-ups was announced but received mixed reactions for being insufficient.
- The budget also proposed removing angel tax to encourage space industry investments.
- The rise mainly supports space technology development, with increased funding for space applications, decrease for space sciences, and a significant cut for INSAT satellite systems.
- A ₹1,000 crore ($120 million) venture capital pool was announced for space start-ups, aimed at expanding the space economy by five times in the next decade.
- Reactions to the pool were mixed, with some viewing it as insufficient compared to global standards.
- Experts noted the need for more substantial government backing to foster a thriving space start-up ecosystem.
- The government also proposed removing angel tax, which space industry members welcomed as a step to reduce investment friction.
- Recent policies allow up to 100% FDI in satellite component manufacturing and ground segments, with lower limits in other areas.
UPSC Prelims PYQ : 2022
Ques : With reference to Web 3.0, consider the following statements:
1. Web 3.0 technology enables people to control their own data.
2. In Web 3.0 world, there can blockchain based social networks.
3. Web 3.0 is operated by users collectively rather than a corporation.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Ans : d)
