The Ministry of Defence has been allocated a total budget of Rs 5.25 lakh crore for the Financial Year 2022-23. The total allocation under Capital Outlay of the Defence Services is 1.52 lakh crore. The focus is on modernisation of Defence Services and Defence Security Infrastructure development.
68 per cent of the capital procurement budget will be earmarked for domestic industry. This is to reduce imports and promote Atmanirbharta in equipment for the Armed Forces. While Defence R&D will be opened up for industry, start-ups and academia, Private industry will also be encouraged to take up design and development of military platforms and equipment.
Self-reliance is Crucial
Continue reading “Initiatives to Promote Self-reliance (Atmanirbharta)”