Business Daily from THE HINDU group of publications
Saturday, Nov 22, 2008
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Business Daily from THE HINDU group of publications Saturday, Nov 22, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Government
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Security `No money constraint to buy arms' New Delhi, Nov. 20 There is no lack of funds for modernisation of the armed forces, the Financial Advisor (Defence Services), Ms H.K. Pannu said here. Inaugurating a daylong national seminar on `Defence Budget', Ms Pannu said the three Services, in fact, have been unable to spend the money earmarked for purchases or capital expenditure. An official statement states that though outlay on capital expenditure in the budget has risen from less than 30 per cent in 1989-90 to a little over 45 per cent in the current financial year, a major chunk of this has remained unutilised. Ms Pannu said India's defence spending, in real terms, is much lower than reflected in the defence budget. She proposed that it was time funds for organisations and schemes such as the NCC, ex-servicemen welfare and Sadbhavana programme be taken out of the defence allocation. - Our Bureau More Stories on : Security
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