India to Develop Next Generation Launch Vehicle with Major Funding Boost

The Union Cabinet has approved the development of a partially-reusable Next Generation Launch Vehicle (NGLV) with three times the payload capability of ISRO's LVM3. With a budget of Rs 8,240 crore, the NGLV aims to establish and operate the Bharatiya Antariksh Station and support Indian crewed lunar missions by 2040.

The Union Cabinet has greenlit the development of a partially-reusable Next Generation Launch Vehicle (NGLV), designed to triple the payload capacity of ISRO's current Launch Vehicle Mark III.

A whopping Rs 8,240 crore has been allocated for the ambitious project, which includes three developmental flights, essential facilities, programme management, and launch campaigns.

Officials stated that this initiative is a substantial move towards India's mission of establishing the Bharatiya Antariksh Station and achieving an Indian crewed landing on the moon by 2040.