Centre cuts defence budget

PRESS TRUST OF INDIA

New Delhi, Jan 2: Government has imposed around five per cent cut in the Rs 1.93 lakh crore defence budget this year in view of economic slowdown.
 The Ministry of Finance recently conveyed to the Defence Ministry that there would be a cut of around Rs 10,000 crore in the Rs 1.93 lakh crore allocated for the defence sector, Ministry officials said here.
 After the cut in budget, several key acquisition plans of the three forces including the procurement of 126 combat aircraft for the IAF are expected to be pushed for the next fiscal, they said.
 Defence Minister A K Antony had given indications in this regard recently when he said that the Ministry would be struggling to get even the allocated amount.
 "I am struggling to get the budgetary amount," he had said when asked if he was hopeful of getting the additional Rs 40,000 crore sought by his ministry for modernization of the three services.
 In view of the cost-cutting measures, defence forces have been asked by the ministry to concentrate on prioritizing their procurements.
 Under the Rs 1.93 lakh crore budget, Rs 1,13,829 crore is for revenue expenditure including salaries and pensions and Rs 79,579 crore was allocated for modernizing the armed forces by acquiring new assets.

Lastupdate on : Wed, 2 Jan 2013 21:30:00 Makkah time
Lastupdate on : Wed, 2 Jan 2013 18:30:00 GMT
Lastupdate on : Thu, 3 Jan 2013 00:00:00 IST



  • del.icio.us
  • StumbleUpon
  • Digg
  • TwitThis
  • Mixx
  • Technorati
  • Facebook
  • NewsVine
  • Reddit
  • Google
  • LinkedIn
  • YahooMyWeb
  • Print News
  • YahooMyWeb

Code Image  Load New Code
Enter the Security code exactly as you see it in the image security code is CaSe SeNsItIvE(Cookies must be enabled)
  • MORE FROM NATIONAL

  • Kashmir

Food Safety: High Court directs JK Govt to ‘get spices tested’

Makes testing of milk, imported food items mandatory; Seeks compliance report by January 31

D A RASHID

Srinagar, Jan 2: The Jammu and Kashmir High Court has directed the state government to collect samples of spices, manufactured by factories and/or industrial units in the state, on weekly basis for laboratory More


  • Srinagar City

Expedite land acquisition for Bagh-i- Dilawar Khan College: Sagar

Srinagar, Jan 2: Minister for Rural Development, Law, Justice, Parliamentary Affairs and Panchayati Raj, Ali Muhammad Sagar on Wednesday directed the district administration to expedite land acquisition More



  • Jammu

7 hydel power projects put on EPC mode in JK

PRESS TRUST OF INDIA

Jammu, Jan 2: The Jammu and Kashmir Government Wednesday said seven hydel power projects in the state with combined installed capacity of 1,036 MW have been put on the public- private partnership route More


  • South Asia

Tahir-ul Qadri's 'long march' puts PPP, PML-N in same boat

PRESS TRUST OF INDIA

Lahore, Jan 2: Rattled by the sudden re-emergence of Tahir-ul-Qadri, Pakistan's two main political parties -– PPP and PML-N –- have joined hands to deal with his planned protest in Islamabad on January More


  • Mamoosa

Mamoosa:‘Super Model Village’ sans basic amenities

AHMAD KASHMIRI

Mamoosa (Pattan), Jan 3: This north Kashmir hamlet, just a few kms from Srinagar-Gulmarg highway, which was named as ‘Super Model Village’ by the Chief Minister Omar Abdullah, four years ago sans basic More


  • GKeducation&Careers

Towards a better education system

Focus on the quality of education at the primary level to achieve better results

REMEDIAL MEASURES

REHANA JABEEN

It is result time, pick up a morning newspaper and you will come across numerous ads carrying photographs of students who have passed their 10th class annual exam with good marks. The scores and names More


ADD
Designed Developed and Maintaned By Imobisoft Ltd /Algosol Software Solutions