India's Defence Ministry utilises 65.50% of capital acquisition budget on domestic procurement in FY22

The Ministry of Defence (MoD) on Wednesday said that it utilised 65.50% of the capital acquisition budget on domestic procurement in the last financial year, exceeding the target of 64%.

The MoD had earmarked 64% of capital acquisition budget for domestic industry in fiscal year 2021-22.

Further, as per preliminary expenditure report of March 2022, the MoD was able to utilise 99.50% of the defence services budget in FY 2021-22, the ministry said in a statement.

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