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In order to boost its military strength, India will be spending whopping amount of Rs 15 lakh crore on purchase of weapon systems in coming ten years. The Ministry of Defence has prepared a list of weapon systems which includes 500 helicopters, 12 submarines, nearly 100 single engine fighter jets and over 120 twin engine fighter aircraft and aircraft carrier. In the next financial year, the Defence Ministry is planning to spend approximately Rs. 86,340 crore.
The military has drawn a medium-term roadmap called ”Long Term Integrated Perspective Planning” for 2012 to 2027. However the military always make such roadmaps, but this time the Defence Ministry has asked a detailed financial projections for modernisation of Army, Navy and Air Force. According to a report of NDTV, Defence Minister Manohar Parrikar has asked his ministry to project the expected cost of modernisation of weapon systems. Parrikar has asked the official of Defence Ministry to work on the expected outflows annually in Defence’s budget over the next decade.
According to the ministry’s projections, the estimated growth in the capital budget has been pegged at 8 per cent annually. ”On an average, we see a growth between 5 to 9 per cent annually, a projected growth of 8 per cent is a realistic figure to work with. We are likely to get about 13 lakh crore for capital acquisition over the next decade, leaving us with a short fall of between Rs.1.5 lakh to Rs. 2 lakh crore,” a Defence Ministry official was quoted as saying.
With strength of over 1.3 million active personnel, Indian Army is world’s third largest military force and has the world’s largest volunteer army. During the financial year 2015–16, the government allocated for about 60 billion US dollars for ”defense and security”. According to a report published by the US Congress, India is the developing world’s leading arms purchaser. India is investing₹99.7 billion (US$1.5 billion) to build a dedicated and secure optical fibre cable (OFC) network for exclusive use of the Army, Navy and Air Force. This will be one of the world’s largest closed user group (CUG) networks. Indian Army is one of the largest standing armies (and the largest standing volunteer army) in the world, with 1,129,900 active troops and 960,000 reserve troops.
India to spend Rs 15 lakh crore on purchase of modern weapon systems, 500 choppers, 220 fighter jets, 12 submarines on list - India.com
The military has drawn a medium-term roadmap called ”Long Term Integrated Perspective Planning” for 2012 to 2027. However the military always make such roadmaps, but this time the Defence Ministry has asked a detailed financial projections for modernisation of Army, Navy and Air Force. According to a report of NDTV, Defence Minister Manohar Parrikar has asked his ministry to project the expected cost of modernisation of weapon systems. Parrikar has asked the official of Defence Ministry to work on the expected outflows annually in Defence’s budget over the next decade.
According to the ministry’s projections, the estimated growth in the capital budget has been pegged at 8 per cent annually. ”On an average, we see a growth between 5 to 9 per cent annually, a projected growth of 8 per cent is a realistic figure to work with. We are likely to get about 13 lakh crore for capital acquisition over the next decade, leaving us with a short fall of between Rs.1.5 lakh to Rs. 2 lakh crore,” a Defence Ministry official was quoted as saying.
With strength of over 1.3 million active personnel, Indian Army is world’s third largest military force and has the world’s largest volunteer army. During the financial year 2015–16, the government allocated for about 60 billion US dollars for ”defense and security”. According to a report published by the US Congress, India is the developing world’s leading arms purchaser. India is investing₹99.7 billion (US$1.5 billion) to build a dedicated and secure optical fibre cable (OFC) network for exclusive use of the Army, Navy and Air Force. This will be one of the world’s largest closed user group (CUG) networks. Indian Army is one of the largest standing armies (and the largest standing volunteer army) in the world, with 1,129,900 active troops and 960,000 reserve troops.
India to spend Rs 15 lakh crore on purchase of modern weapon systems, 500 choppers, 220 fighter jets, 12 submarines on list - India.com