India Budgets $2.5 Billion for Manned Space Program

It appears that India is making a major push into manned space flight. (Paid subscription required)

Conceptual space capsule

They are looking at a first flight in the 2015 time frame with some significant collaboration with the Russians.

This to my mind is the least sensible way to spend money of space flight. They are already spending significant amounts on reconnaissance and imaging satellites, which meet actual needs, as opposed to perceived status in the world.