The union budget for 2022-2023 has been officially allocated and the Indian Space Programme will receive a total of Rs.12,543.91cr.
This funding will go to the Government-run Department of Space(DoS), which comprises the Indian Space Research Organization (ISRO), NewSpace India Limited (NSIL) and IN-SPACe.
Upon seeing that the budget was Rs.12,543.91cr, many people thought that the budget is lower than last year, which was Rs.13,700cr. Which is about a 9.2% of reduction.
But when you take a closer look at the budget, you realise that the 2022-2023’s budget was actually significantly lower.
Although the allocated budget for the last financial year was Rs.12,543.91cr, keeping the demands and grants in mind the budget had been revised during the financial year and the total estimate of the amount used in 2022-2023 was Rs.10,530cr.
So keeping in mind the revised budget we can conclude that the budget for 2023-2024 has a hike of 19% compared to the year before.
In the past couple of years, the DoS has received an amount between Rs.10,000-13,000 cr per annum, which makes this year's budget estimate completely in trend.
Division of the budget
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Space Technology - Rs.9441cr
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Space Applications - Rs.1,559cr
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INSAT Satellite System - Rs.531cr
Please note - These are all estimated budgets and can be revived during the financial year.
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