You are here: Home » Government Press Release » News
Business Standard

Budgetary support to Defence sector to remain governments priority Two Defence industrial production corridors to be developed Government to bring out industry friendly Defence production policy 2018

Delhi 

Budgetary support to Defence sector to remain governments priority

Two Defence industrial production corridors to be developed

to bring out industry friendly Defence production policy 2018

Ensuring adequate budgetary support to the Defence Sector will be the priority of the Presenting the General Budget 2018-19 in Parliament today, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitely said that a lot of emphasis has been given to modernizing and enhancing the operational capability of the Defence Forces over the last three and a half years. The Finance Minister appreciated the stellar role played by the Armed Forces in meeting the challenges on the countrys borders as well as in managing the internal security environment both in Jammu and Kashmir and the North East.

A number of initiatives have been taken to develop and nurture intrinsic defence production capability to make the Nation self-reliant for meeting our defence needs, the Finance Minister explained.

Shri Arun Jaitely said that private investment in defence production has been opened up including liberalizing foreign direct investment. The will take measures to develop two defence industrial production corridors in the country. The Government will also bring out an industry friendly Defence Production Policy 2018 to promote domestic production by public sector, private sector and MSMEs, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 01 2018. 00:20 IST