The 37th report of the 17th Lok Sabha's Standing Committee on Defence, which was tabled before Parliament on March 31, reveals that despite the government's encouragement of defence procurement from domestic sources, almost 40 per cent of the defence capex Budget has been expended on foreign military equipment over the preceding decade.
Extrapolating from the report, which scrutinises defence expenditure from Financial Year 2012-13 (FY13) to FY22, the expenditure on foreign vendors exceeded 35 per cent in seven of those 10 years. In the remaining three years, foreign capex exceeded 40 per cent on one occasion going up to 49 per cent.
Esta historia es de la edición March 30, 2023 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 30, 2023 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Brokerages bullish on ICICI Bank stock after Q4 results
Bank's market cap zoomed past 8 trillion mark and settled at ₹8.14 trillion
Choose Aadhaar-based KYC: Once done, you may invest across fund houses
Keep Aadhaar, registered mobile number and scanned documents handy before starting online procedure
Sebi probing Linde India for RPT violation
The Securities and Exchange Board of India (Sebi) on Monday directed Linde India to comply with the norms of materiality thresholds for future related party transactions (RPTS) based on the aggregate value of transactions, amid an ongoing investigation by the regulator.
Hopes of universal bank tag lift AU SFB
Shares of AU Small Finance Bank (SFB) rallied more than 6 per cent on Monday after analysts said the lender meets all eligibility criteria laid down by the Reserve Bank of India (RBI) for obtaining a universal banking licence.
Silver ETF AUM tops ₹5,000 cr
Last month, Gold ETF AUM had topped ₹30,000 crore
Street disappointed with SBI Card's Q4 performance
SBI Cards & Payment Services reported mixed results for the January-March quarter (Q4) of FY24.
Fee outgo: BSE mcap plunges by ₹6,000 cr
Analysts see price hike in options segment to offset costs
Backed by banking stocks, benchmarks gain 1%
The Sensex and the Nifty 50 on Monday gained over 1 per cent each, driven by sharp increases in banking stocks following better-thanexpected quarterly profits from index heavyweight ICICI Bank.
Tone and substance
Subtle shifts in the texture of Sino-US ties
India's West Asia security dynamics
Despite its stakes in the region, its policy doesn't aim for long-term regional stability