Representative file image. , Photo Credit: PTI
The Indian Space Association (ISPA) has urged the central government to bring the space sector under the Production Linked Incentive (PLI) scheme. Among other pre-budget recommendations, it also called for GST exemption for private satellite launch service providers and exemption from angel tax.
The PLI scheme will promote space-related research and development in the country and also facilitate the promotion of institutions engaged in this field, said Lt Gen AK Bhatt (Retd), Director General of the Indian Space Association.
According to a statement issued by the apex body on Monday, ISpA has sought parity in treatment in terms of capital gains for shares of unlisted companies and financial support from the government by way of loans, grants and tax incentives.
“Given that most space-tech companies in the country are startups and access to capital is an issue, it would be beneficial to create parity in terms of rate and treatment of short-term capital gains tax with respect to listed and unlisted entities,” he said. Recommended.
Overall, these measures will create a more conducive environment for companies and organizations working in the space sector, as it will help in investment, research and development and job creation, Mr. Bhatt said.