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economictimes.indiatimes.com / 1 year ago
abcnews.go.com / 1 year ago
Defence Ministry arms itself with Rs 1.72 lakh crore to buy new weapon systems
budget has allocated ₹1.72 lakh crore for capital acquisition by the defence ministry, the biggest chunk of which will go to the domestic industry.
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In all, it has set aside ₹6.22 lakh crore for the ministry, a tad higher than the allocation made in the interim budget five months ago.
A significant portion of this allocation will go to pensions and salaries.
The ministry will spend the capital acquisition outlay on acquiring new weapon systems for the armed forces, including fighter aircraft, ships, submarines, drones and specialist vehicles.
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The planned modernisation of Su 30MKI fighter fleet along with additional procurement of aircraft, acquisition of engines for the existing MiG-29 fleet and purchase of transport aircraft C-295 and LCA Mk1A fighter will be funded out of the budget.
Major deals expected to be signed this year include a contract to acquire three additional submarines from Mazagaon Dockyards Ltd, purchase of 26 Rafale Marines from France and long-range drones from the US.
In a post on X, Rajnath Singh said, «As far as the allocation to the Ministry of Defence is
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M-cap of 8 of top 10 firms plunges Rs 1.28 lakh crore; TCS, Infosys biggest laggards economictimes.indiatimes.com / 1 year ago
Telangana's irrigation projects double in cost: CAG reveals Rs 1 lakh crore ballooned to Rs 2 lakh crore due to delays economictimes.indiatimes.com / 1 year ago
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