68% Of Capital Procurement Budget Of Defence For Domestic Industry

With an objective to reduce dependence on imports of defence equipment, India will earmark 68 per cent of its capital procurement budget of the defence sector for the domestic industry, Finance Minister Nirmala Sitharaman said on Tuesday.

Presenting the Union Budget 2022-23 in the Lok Sabha the Finance Minister said 68 per cent of the capital procurement budget for Defence will be earmarked for domestic industry to promote Aatmanirbhar Bharat and reduce dependence on imports of defence equipment. This is up from 58 per cent last fiscal.
Sitharaman announced that defence research and development (R&D) will be opened for industry, start-ups and academia.

Private industry will be encouraged to take up the design and development of military platforms and equipment in collaboration with Defence Research and Development Organisation (DRDO) and other organizations through the special purpose vehicle (SPV) model, the Finance Minister said. (ANI)

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are essential in order to enable you to move around the website and use its features. Without these cookies basic services cannot be provided.

Cookie generated by applications based on the PHP language. This is a general purpose identifier used to maintain user session variables. It is normally a random generated number, how it is used can be specific to the site, but a good example is maintaining a logged-in status for a user between pages.

Used on sites built with Wordpress. Tests whether or not the browser has cookies enabled
  • wordpress_test_cookie

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services
Would love your thoughts, please comment.x