Budget 2024: FM announces Rs 1,000 crore fund to back spacetech startups

The Union government will set up a Rs 1,000 crore venture capital fund for investments into the space economy, finance minister Nirmala Sitharaman said in her budget speech.

The minister added that the Indian space economy will be expanded by five times over the next decade. She did not elaborate on which entity will set up the fund or how the funds will be invested.