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

Top Stories

Covaxin 81 per cent efficient in Phase 3 trials, says Bharat Biotech

Covaxin 81 per cent efficient in Phase 3 trials, says Bharat Biotech

‘It also demonstrates significant immunogenicity against rap...

SC says dissent can't be termed seditious, junks plea against Farooq Abdullah

SC says dissent can't be termed seditious, junks plea against Farooq Abdullah

Plea alleged that the former chief minister is trying to “ha...

IT Department raids Taapsee Pannu, Anurag Kashyap, others in tax evasion probe

IT Department raids Taapsee Pannu, Anurag Kashyap, others in tax evasion probe

Searches carried out across 30 locations in Mumbai and Pune,...

UK MPs to debate press freedom, safety of protesters in India next week

UK MPs to debate press freedom, safety of protesters in India next week

Move comes in response to an e-petition which had crossed th...

AAP sweeps MCD bypolls, says results an indication ahead of 2022 election

AAP sweeps MCD bypolls, says results an indication ahead of 2022 election

While the results have been a shot in the arm for AAP ahead ...

Cities

View All