• SENSEX
    NIFTY 50
Economy

Defence ministry calls for creation of non-lapsable fund to accelerate buying weapons

Updated : April 09, 2018 02:34 PM IST

The defence ministry usually has funds at the time of deciding on a procurement, but the money lapses when a supplier is chosen and the procurement is about to begin.
The defence ministry’s demand comes shortly after the armed forces raised red flags over non-availability of funds for modernising the armed forces.
Defence minister Nirmala Sitharaman said the government is trying to ease defence procurement process for Indian companies by fast tracking the testing of prototypes of weapon systems.
Defence ministry calls for creation of non-lapsable fund to accelerate buying weapons
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV