Govt committed to reduce imports in defense sector: FM Sitharaman
The government is committed to reduce imports and promote self-reliance in the defence sector, Finance Minister Nirmala Sitharaman said on Tuesday
 "Union Minister of Finance Nirmala Sitharaman with Ministers of State for Finance Bhagwat Kishanrao Karad and Pankaj Chaudhary")
Union Minister of Finance Nirmala Sitharaman with Ministers of State for Finance Bhagwat Kishanrao Karad and Pankaj Chaudhary on her at Parliament for the presentation of the Union Budget 2022-23, in New Delhi (Photo: PTI)
The government is committed to reduce imports and promote self-reliance in the defence sector, Finance Minister Nirmala Sitharaman said on Tuesday.
She said that 68 per cent of capital for the defence sector would be earmarked for the local industry.
Sitharaman also said that 5 per cent of Universal Service Obligation (USO) Fund would be provided for R&D and technology upgradation.
"Contracts for laying of optical fibre net to all villages under BharatNet to be provided under PPP mode," she added.
Further, she noted that risks of climate change are the strongest externalities for the world and a low carbon development strategy would open employment opportunities.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Feb 01 2022 | 12:23 PM IST