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Showing posts with the label Budget 2022
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India Inc has been given permission by the Ministry of Defence to construct a light tank and other defence equipment.   ~Preet. Under the Defence Acquisition Procedure, the Ministry of Defence authorised projects involving the design and development of military hardware such as light tanks, airborne stand-off jammers, communication devices, and simulators (DAP). The defence ministry has approved nine such projects, four under the DAP 2020's 'Make-I' category and five under the 'Make-2' category. In the Union Budget 2022, India set aside Rs 84,598 crore (68 percent of the military's capital acquisition budget) for purchasing locally produced weapons and systems, as well as allocating 25% of the defence R&D budget to private industry, startups, and academia in order to encourage them to pursue design and development of military platforms. The Make in India project, which aims to enhance indigenous capabilities by involving both the public and commercial sector