Rs 70K cr kept for domestic defence purchase: Rajnath

Rs 70K cr kept for domestic defence purchase: Rajnath

Defence Minister Rajnath Singh today said it was planned to allocate about Rs 70,221 crore for procurement of defence equipment that is made in India.

New Delhi, February 22

Defence Minister Rajnath Singh today said it was planned to allocate about Rs 70,221 crore for procurement of defence equipment that is made in India.

This means more than half of procurement would be done from Indian firms. The capital allocation for the fiscal 2021-22 is Rs 1,35,060 crore.

“This increase will have a positive impact on enhanced domestic procurement, having multiplier effect on our industries, including MSMEs and start-ups,” Rajnath told a webinar organised by the industry chambers. The theme was “Budget Announcements 2021-22: Galvanising Efforts for Aatmanirbhar Bharat”.

At the same webinar, PM Narendra Modi delivered a keynote address saying, “It has been the endeavour of the government to move forward in the defence sector with transparency, predictability and ease of doing business.” — TNS

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