Explanation:

The Union Cabinet approved Memorandum of Understanding (MoU) between the Government of India and Bhutan on Cooperation in the peaceful users of outer space signed on November 19, 2020 by both sides at Bangalore/Thimpu and exchanged.

• This MoU shall enable India and Bhutan to pursue cooperation in potential interest areas, such as remote sensing of the earth; satellite communication and satellite based navigation; Space science and planetary exploration; use of spacecraft and space systems and ground system; and application of space technology.
• This MoU would lead to set up a Joint Working Group, drawing members from DOS/ISRO and the Ministry of Information and Communications (MoIC) of Bhutan, which will further work out the plan of action including the time-frame and the means of implementation.

Hence option 4th is correct.