I respect your opinion and would respect your decision. Although would not stop looking for funding elsewhere. Even a failure in such endeavors gives a great return on investment. Many modern tech wonders are a direct result of space research. Humanity has to be a space faring civilization, else our future generations will go extinct. Imagine if our ancestors had stopped exploring the oceans until all of humanity's problems were solved.
I agree with your general point, I just think that it doesn't make sense to pump money into this endeavour until there's clean drinking water for everyone. Once there's wealth to spend, space is a nice goal. On the other hand I do not personally care about the fate of millions impoverished Indians and wouldn't mind sacrificing their lives towards the goal of space exploration. All I'm saying is that the priorities here may be perceived as being wrong.