Worldwide

"70% Equipment Vintage": Army Officer Says Defence Budget Dashed Hopes

The development was shared by the army's Vice Chief Lt Gen Sarath Chand in his deposition to the Committee, according to a report tabled in Parliament by the latter on Tuesday.

The shortfall stands at ₹17,756.92 crore, ₹15,691.70 crore, ₹1,392.58 crore and ₹41,924.57 crore for Army, Navy, Joint Staff and Air Force, respectively.

In the wake of an audacious terrorist attack on an Army camp in Uri in Jammu and Kashmir in September 2016, the Defence Ministry delegated financial powers up to Rs 14,097 crore for immediate purchase of ammunition and other equipment to secure the military stations.

In a candid submission, Indian Army Vice Chief Lt Gen Sarath Chand has told Parliamentarians that the 2018-19 budget was a setback for the forces as the money sanctioned for capital purchase was not sufficient even to pay for ongoing projects, leaving barely anything for new procurement.

"Budget 2018-19 has dashed our hopes and most of what has been achieved has actually received a little setback", Lt. Gen. Chand said while deposing before the parliamentary panel, and added that this may lead to foreclosure of 25 "Make in India" defence projects that are now in the pipeline.

"The possibility of a two-front war is a reality, and speaking about it, it is important that we are conscious of the issue and we pay attention to our modernisation and filling up our deficiencies".

"(The) modernisation of both Pakistan and China is going on in full swing. "More than ever, there is an increasing obligation to ensure that our nation cements its military capability and is recognised as a net security provider in the South Asia region", he said. "However, the budget does little to contribute to this requirement", the representative quoted above told the panel.

"Typically, any modern armed force should have one-third of forces, one-third of its equipment in the vintage category, one-third in the current category and one-third in the state-of-the-art category". He said the funds crunch could make the Prime Minister's "Make in India" programme in defence a non-starter.

"We, in the Army, also identified as many as 25 projects for the "Make in India" policy". However, there is no adequate budget to support this.

India allocated Rs 2.95 lakh crore for military spending in 2018-19, a modest hike of 7.8% over last year's budget of Rs 2.74 lakh crore.

All streams taken into account, the Army has an overall shortfall of around ₹12,296 crore under the capital head, the report said. In case that is not possible for all types of ammunition, the requirement that WWR must last for at least 20 days was made mandatory by the government two decades ago. Similarly, taking note of the "unsympathetic attitude" towards naval modernisation, the committee said, "A budget deficit of almost 40% will indeed have a cascading impact on the operational preparedness and technological up-gradation of the Navy".



Like this

loading...
loading...

Latest


12 April 2018
New Jersey Looking Towards Sports Betting
New Jersey has demonstrated recently that financial returns from legalising gambling, in particular online gambling can be huge . As of April 2018 New Jersey have spent a massive $7.2M dollars in the fight to legalise sports betting within the state borders.

11 April 2018
England All-rounder David Willey Replaces Kedar Jadhav
He has two centuries and seven half centuries to his name, which have come while playing in various T20 leagues across the world. With an experience of more than 140 T20 matches, David will prove out to be the Trump Card of Chennai Super Kings this season.

13 March 2018
Posluszny retires after 11 National Football League seasons with Bills, Jaguars
Posluszny was a two-time victor of the Bednarik Award and a one-time Butkus Award recipient while playing for the Nittany Lions. He made his first and only playoff appearance this past season, reaching the AFC Championship game with the Jaguars.

13 March 2018
Simon Property Group (SPG) Getting Somewhat Positive News Coverage, Report Shows
Bbva Compass Bancshares Inc. boosted its stake in shares of Simon Property Group by 19.3% in the 4th quarter. (NYSE:SPG). Moore Capital Management Lp sold 37,500 shares as the company's stock declined 12.82% while stock markets rallied.

13 March 2018
Lloyds Banking Group's (LLOY) Buy Rating Reiterated at Beaufort Securities
Lloyds Banking Group Plc (NYSE: LYG ) shares traded 0.26% up during most recent session to reach at the closing price of $3.83. The stock of Lloyds Banking Group plc (LON:LLOY) earned "Overweight" rating by Barclays Capital on Thursday, October 29.

13 March 2018
Rigel Pharmaceuticals (NASDAQ:RIGL) Given Coverage Optimism Score of 0.35
The highest price RIGL stock touched in the last 12 month was $4.71 and the lowest price it hit in the same period was $2.14. Moreover, Weiss Multi has 0.01% invested in Rigel Pharmaceuticals, Inc . (NASDAQ: RIGL ) rating on Wednesday, August 31.

13 March 2018
Fifth-largest diamond in history sells for $40 million
Previous to "The Lesotho Legend", the biggest precious rock found at Letšeng was the 603-carat Lesotho Promise, dug up in 2006. Gem Diamonds has sold its so-called Lesotho Legend, the fifth largest gem-quality diamond in history, for $40m (£29m).

13 March 2018
SRK's daughter Suhana Khan bags her first project
Suhana Khan in recent times has made a few gorgeous appearances at public events and has grabbed a lot of attention for her looks. Having full support from her parents will surely help the starlet in spreading her wings in the sky of acting.

13 March 2018
ISIS claims responsibility for Yemen military kitchen bomb attack
But it also hosts jihadists of Al-Qaeda and the Islamic State group, who have both claimed attacks in the city in recent years. A number of ambulances rushed to the bombing site to send the injured people to nearby hospitals.

13 March 2018
Royal Caribbean Cruises LTD (RCL) Position Boosted by Tiger Management Llc
It turned negative, as 39 investors sold RCL shares while 168 reduced holdings. 83 funds opened positions while 175 raised stakes. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Mngmt has 0.17% invested in NIKE, Inc.