Most of India’s defence funds remain unspent

Maverick_27 · Jul 28th, 2009, 09:23 AM

NEW DELHI: India may be adding whopping amounts to its defence allocations every year, but most of the funds remain unspent and are returned to the Finance Ministry.

To a question in the Lok Sabha, Defence Minister AK Antony said Rs 70.07 billion were returned during the last financial year. In the revised estimates, the Defence Ministry had proposed to reduce Rs 20.63 billion from the original allocations. Antony said the primary reason for the reduction was non-implementation of certain schemes and delays in the delivery schedules of contracted schemes. He said in order to expedite procurements, defence procurement procedures (DPP) had been revised to ensure and optimise even utilisation of allocations.

Antony said the salient features of the offset policy of the DPP include the introduction of offset credit banking to enable foreign vendors to create offset programmes in anticipation of future obligations. Private industry was now required to have an industrial licence only if stipulated under the licensing requirements for the defence industry. A list of defence products had been added to facilitate the foreign vendors in implementing their offset obligations. iftikhar gilani

http://dailytimes.com.pk/default.asp?page=2009\07\28\story_28-7-2009_pg7_32

i think as mentioned in red text indian army has lack of financial managment skills .............. or the other possible reason the govt allocates too much fund for defense expenditure even more than the Indian army needs ..............

i think they shud think about it and use that surplus amount on the poverty alleviation ............... to reduce hunger and poverty that is rampant in India .............. and shud not spoil tax payers money in ill conceived and ill planned military projects

naveed_92 · Jul 30th, 2009, 08:07 AM

And India doesn't even need a large military budget because, unlike Pakistan, It does not have any military threats.

Punjabee in USA · Jul 30th, 2009, 10:28 AM

Quote:

Originally Posted by Maverick_27

i think as mentioned in red text indian army has lack of financial managment skills .............. or the other possible reason the govt allocates too much fund for defense expenditure even more than the Indian army needs ..............

i think they shud think about it and use that surplus amount on the poverty alleviation ............... to reduce hunger and poverty that is rampant in India .............. and shud not spoil tax payers money in ill conceived and ill planned military projects

If there are surplus funds, they are available to the govt for discretionary spending on a variety of programs including povery alleviation. How is that spoiling tax payers money ??

PaRtyGuyz · Jul 30th, 2009, 03:37 PM

They are buying Crap Aircraft Carrier like Admiral Grashkov from Russia...either indians are stupid, lazy or blind...lol

read it yourself
Navy chief defends Gorshkov deal after CAG raps govt - India - NEWS - The Times of India

Maverick_27 · Jul 31st, 2009, 01:35 AM

Quote:

Originally Posted by Punjabee in USA

If there are surplus funds, they are available to the govt for discretionary spending on a variety of programs including povery alleviation. How is that spoiling tax payers money ??

dude

i said that indian army has surplus funds .................. it means that indian govt is not allocating the fund properly............. and giving too much funds to army that remain unspent ................

if that surplus money had no been give to army and instead spent on public sector development program it coud be instrument to improve the quality of life of the ppl of india ...............

so the basic problem is in the budgeting ..................they need to think again and need to make allocation wisely ...............

Maverick_27 · Jul 31st, 2009, 01:38 AM

Quote:

Originally Posted by naveed_92

And India doesn't even need a large military budget because, unlike Pakistan, It does not have any military threats.

yeah ...................... u r rite

thanx 4 leaving ur comments