New Delhi: With its low-cost satellite launches, the Indian Space Research Organisation (ISRO) pretty much has the space race in the bag.


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Lauded across the world, India is known for maintaining one of the best space programs and the space agency has a lot more in store.


With its trusty workhorse – the Polar Satellite Launch Vehicle (PSLV) – ISRO has managed record-breaking launches.


However, the space agency is also in the process of designing a Small Satellite Launch Vehicle (SSLV), which would be a compact launcher exclusively for smaller satellites, the Lok Sabha was informed today.


The small launch vehicle is likely to reduce the cost for launching satellites in the competitive space technology market. When ISRO launched a record 104 satellites in February last year, except the Cartosat-2, all were small satellites.


"ISRO is working on the design of a Small Satellite Launch Vehicle (SSLV), that is a compact launcher for small satellites," Minister of State in the PMO, Atomic Energy and Space, Jitendra Singh said in a written reply to a question.


In reply to another question, Minister of State for Science and Technology and Earth Sciences Y S Chowdary said: "A project for setting up of a total of 32 new seismological observatories is under implementation and is likely to be completed by the end of the financial year 2017-18".


After the installation of 32 new observatories, the strength of the National Seismological Network (NSN) shall be assessed and accordingly plan for setting new observatories in gap areas shall be planned, he added.


(With PTI inputs)