Defence Min has spent 70% modernisation funds: Antony

Discussion in 'Defence & Strategic Issues' started by Blackwater, Feb 14, 2012.

  1. Blackwater

    Blackwater Veteran Member Veteran Member

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    Ahead of the Union Budget, Defence Minister AK Antony today said his ministry has spent over 70% of the modernisation funds allocated to it for the current fiscal.

    The Defence Ministry has been sanctioned Rs 69,199 crore for capital expenditure outlay for finalising acquisition of major items such as 10 C-17 heavy-lift aircraft and 145 ultra-light Howitzers.


    "Already by December 31, we had spent 66% of the budget. This is a record. By January, it will be more than 70%. From our side, we are spending all money for modernisation," he told reporters here.
    The total budgetary allocation was pegged at Rs 1,64,415 crore for the Defence Ministry.

    From the Rs 69,199 crore capital outlay, the army got Rs 18,986 crore, Navy Rs 5,688 crore, naval fleet Rs 7,320 crore and Air Force Rs 30,699 crore.

    India is looking to spend over $100 billion in defence procurements in the next five years with several big ticket items such as six conventional submarines and 126 Medium-Multirole Combat Aircraft (M-MRCA) to be procured by it.

    Defence Min has spent 70% modernisation funds: Antony
     
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  3. Blackwater

    Blackwater Veteran Member Veteran Member

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    Dhoti wale uncle, nazar to kuch nahi aya abhi tak

    Jokes apart. I think its Defence ministry plan to ask GOI for more money this time in budget....
     
  4. Dovah

    Dovah Untermensch Senior Member

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    How do we distinguish modernization funds and the defence budget.

    For example, would the MMRCA come under modernization program even though it is only replacing obsolete Migs?
     
  5. nrj

    nrj Stars and Ambassadors Stars and Ambassadors

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    They are not even spending the money already allocated, MoD has tradition of returning the budget money :rolleyes:
     
  6. Kunal Biswas

    Kunal Biswas Member of the Year 2011 Moderator

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    Get the basic first..
     
    Soorya Dhanush, Bangalorean and nrj like this.
  7. Ray

    Ray The Chairman Defence Professionals Moderator

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    Too little, too late, Uncle Anthony.
     

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