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Latest Indian Defence News
No Budget Cut for Critical Defence Purchases
Even as his Ministry is preparing itself for curtailment of funds, Defence Minister A K Antony today said there will be no cut in budget for procuring equipment essential for operational preparedness of armed forces. "Everything depends on the entire financial situation of the government...for ammunition and platforms essential for operational preparedness of the armed forces, there would not be any cut," he told reporters on the sidelines of an IDSA function here. The Minister was asked if there would be delays in the procurement of weapon systems for armed forces due to economic slowdown and austerity measures.
Defence Ministry Struggles to Get Budget Allocation
Defence Ministry is struggling to get even its allocated budget of Rs 1.93 lakh crore allotted by the government in the budget and is not hopeful of getting the additional Rs 40000 crore demanded by it for modernisation. "Now I am struggling to get the budgetary amount," he told reporters here when asked if he was hopeful of getting the additional Rs 40,000 crore sought by his ministry for modernising the three services. The Defence Minister was interacting with reporters on the sidelines of an army seminar on Defence Communication Networks.
Defence Ministry Audit Reveals Rs.100 Crore Loss Caused By Army Commanders
Barely a couple of months since the Defence Minister A K Antony urging the armed forces to use the Defence budget wisely and avoid "wasteful expenditure", an internal audit report has detected a loss of over Rs 100 crore in spending by six army commanders between 2009 and 2011. This has prompted the Defence Ministry to inquire into the expenditure incurred by the six army commanders. The Controller of Defence Accounts (CDA) has been brought into the loop to audit expenses made by the army commanders and the subsequent loss of Rs. 100 crores. It may be noted that under the special financial powers, the army can spend up to Rs 125 crore to procure urgently-required items for troops.
Economic Slowdown May Take Its Toll on Armed Forces with Cuts in Defence Budget
With the growing economic slump and lack of resources, Indian finance ministry intends to slash down the Defence budget mid-way through the financial year. After a string of meetings held recently, Finance ministry has warned the Defence ministry that no funds for mega Defence procurements will be forthcoming unless the economy does not improve soon. As for the Defence Ministry, it will carry out a review next month of major military projects such as plans for acquiring 126 combat aircraft and raising a Strike Corps in the northeastern sector.
DRDO Seeks $35 Billion Allocation for Five Years
India's lone state-owned Defence research and development agency has sought about $35 billion from the government for the five-year period till 2017 to ensure its armed forces get modern, latest weapons and military systems from its stable. Defence Ministry sources said that the Defence Research and Development Organisation (DRDO) has asked for the amount under the 12th Plan period from 2012-17 as it wants to diversify its research and development activities and contribute for the Indian armed forces' battle readiness.
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