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Defence ministry bifurcates capital procurement budget into domestic, foreign routes: Rajnath Singh
The defence ministry has bifurcated the budget of capital procurement for 2020-21 into domestic and foreign capital procurement routes, creating a separate budget head with an outlay of Rs 52,000 crore for domestic procurement, Defence Minister Rajnath Singh said on Sunday.
New Delhi [India]: The defence ministry has bifurcated the budget of capital procurement for 2020-21 into domestic and foreign capital procurement routes, creating a separate budget head with an outlay of Rs 52,000 crore for domestic procurement, Defence Minister Rajnath Singh said on Sunday.
"In the current financial year, the budget of domestic capital procurement has been bifurcated. A separate budget head has been created with an outlay of nearly Rs 52,000 crore for domestic capital procurement in the current financial year, the defence minister said while addressing a webinar titled 'Hai Naman Unko.'
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"The Defence Ministry is also heading towards the dream of making 'Atmanirbhar Bharat' a success. Today, I announced import embargo on 101 defence items to boost indigenisation of defence production."
"While on one hand, we are trying to reduce dependence on other countries in the matter of security needs, on the other hand we are providing help to Indian defence manufacturers," he added.
Earlier in the day, the defence minister announced that as many as 101 defence items have been put under an import embargo by the government.
While the deadline has been set for December 2025, the import embargo will come into effect on these items in a phased manner.
By December this year, the embargo will come into effect on items like 7.62x51 Sniper Rifle, Tracked Self Propelled (SP) Gun (155mm x 52 Cal), Towed Artillery Gun (155mm x 52 Cal), 120mm Fin Stabilised Armour Piercing Discarding Sabot (FSAPDS) Mark II Ammunition, ), Shipborne Cruise Missiles, Container-based Simulators for Live Fire Training, ), Simulators Presenting Smart Ranges And Multi-Function Targets, among others. (ANI)