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Indian Centre for Space Physics is engaged in pioneering balloon borne experiments with typical payloads less than ~ 3.5kg. Low cost rubber balloons are used to fly them to a height of about 40km. In a double balloon system, the booster balloon lifts the orbiter balloon to its cruising altitude where data is taken for a longer period of time. In this Paper, we present our first scientific report on the variation of Cosmic Rays and muons with altitude and detection of several solar flares in X-rays between 20keV and 100keV. We found the altitude of the Pfotzer maximum at Tropic of Cancer for cosmic rays and muons and catch several solar flares in hard X-rays. We find that the hard X-ray (> 40keV) sky becomes very transparent above Pfotzer maximum. We find the flare spectrum to have a power-law distribution. From these studies, we infer that valuable scientific research could be carried out in near space using low cost balloon borne experiments.

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