The government has enhanced the financial powers of vice chiefs of the three services by five times and these officials would now be able to clear projects worth up to Rs 500 crore, the Ministry of Defence (MoD) announced on Thursday.
The decision has been taken for expediting the decision making process involved in the procurements of the armed forces, the MoD said.
"The Defence Minister has taken this important decision to augment the arms and ammunition reserves of the armed forces and thus enhance their operational preparedness," it said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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