New Delhi, May 16 (IANS): Finance Minister Nirmala Sitharaman on Saturday said that private companies will be allowed to take part in planetary exploration, outer space travel among other space activities, and the government will take steps to encourage private participation in the Indian space sector.

Speaking to the media, Sitharaman said that the government will provide level playing field for private companies in satellite launches and space-based services.

Centre will come up with a predictable policy and regulatory environment to private players.

The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities. She further announced that liberal geospatial data policy will be framed for private sector to access remote sensing data to tech-entrepreneurs.

The announcement is part of the Rs 20 lakh crore economic package announced by Prime Minister Narendra Modi on Saturday.