India is planning to launch 58 space missions, including sending spacecraft to Moon and Mars, an exclusive satellite to keep a round-the-clock watch on the country and deploy hundreds of transponders in the next five years, reported Press Trust of India on Sunday.

The India Space Research Organization also aims to deploy its own version of the Global Positioning System by putting into orbit a constellation of seven satellites which would form the Indian Regional Navigational Satellite System, during its 12th Five Year Plan, approved by the government last week, said the report.

An indicative plan outlay of 397 billion rupees (about 7 billion U.S. dollars) for the 12th Plan has been made for the department of space.

"Overall, 58 missions are planned for realization during 12th Plan period which includes 33 satellite missions and 25 launch vehicle missions," the 12th Plan document was quoted as saying.

The space agency is also designing a special Geo-Imaging Satellite to be stationed 36,000 km above to maintain round-the- clock vigil and assist state authorities to tackle natural disasters, floods and forest fires and keep a watch over the country's sensitive borders, according to the report.

Source: Xinhua News Agency