Defence minister Rajnath Singh on Monday said nearly Rs 70,000 crore from the capital allocation of Rs 1.35 lakh crore in the defence budget would be reserved for domestic procurement and a second negative list of items for imports would be issued soon.
“The defence ministry has planned to invest about 63 per cent of the outlay for 2021-22, i.e. about Rs 70,221 crore, for domestic defence procurement during the period,” Singh said during a webinar on defence budget organised by the Society of Indian Defence Manufacturers (SIDM).
Overall, this year’s defence outlay is Rs 4.78 lakh crore, a nominal increase from Rs 4.71 lakh crore last year. The allocation for capital expenditure is Rs 1.35 lakh crore, up 19 per cent from last year’s Rs 1.13 lakh crore.
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NEW DELHI: Defence minister Rajnath Singh on Monday said another list of items pertaining to the defence industry that will not be imported from other countries will be notified next month.
He also said procurement of defence equipment from the private sector will not be limited to 15 per cent but will go much beyond that. Another list of items that will be not be imported to be notified in March 2021, he said in his closing remarks in a Webinar on Budget Announcements 2021-22: Galvanising Efforts for Atmanirbhar Bharat on effective implementation of the Union Budget provisions in the defence sector.
India offers $100 mn loan to Mauritius for defence acquisition
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India and Mauritius on Monday consolidated their economic and strategic ties with a trade agreement which will help boost post-covid recovery and a $100-million line of credit for Male to procure defence equipment.
The two countries signed six agreements in the presence of visiting Indian foreign minister S. Jaishankar and Mauritius Premier Pravind Jugnauth. Deals were also signed to lease out a Dornier aircraft and an Advance Light Helicopter (ALH), besides setting up an 8MW solar power plant.
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Defence Minister Rajnath Singh on Monday said another list of items pertaining to the defence industry that will not be imported from other countries will be notified next month. He also said procurement of defence equipment from the private sector will not be limited to 15 per cent but will go much beyond that. Another list of items that will be not be imported to be notified in March 2021, he said in his closing remarks in a Webinar on Budget Announcements 2021-22: Galvanising Efforts for Atmanirbhar Bharat on effective implementation of the Union Budget provisions in the defence sector. Last year, the Department of Military Affairs (DMA), Ministry of Defence (MoD) prepared a list of 101 items for which there would be an embargo on the import.