Page 3 - Military Spending

Approval accorded for military hardware worth Rs 1.83 trn since 2020-21

The government on Friday said it accorded the Acceptance of Necessity (AoN) or in-principle approval for procurement of military equipment worth Rs 1,83,778 crore since 2020-21.

Def ministry sets up committee to conduct performance & efficiency audit

The defence ministry has set up an apex committee to conduct "performance and efficiency" audit of capital procurements, logistics, inventory and maintenance of assets of the armed forces. The committee, headed by the defence secretary, will advise Defence Minister Rajnath Singh on measures for overall improvement in strengthening of internal oversight and risk management framework in various aspects of functioning of the ministry. The panel comprises vice chiefs of the three services, secretary defence (finance), chief of integrated staff committee, controller general of defence accounts and director general (acquisition) and other senior officials of the ministry, including representatives from the Defence Research and Development Organisation. The setting up of the committee comes amid efforts to streamline the military procurement procedures and focus on enhancing the country's overall combat readiness. "The Ministry of Defence has set up an institutional mechanism comprising o

Cash starved Pakistan spends big on military despite financial meltdown

Karachi-based newspaper Dawn said that defence expenditure is budgeted at Rs 1,523 billion, which makes up 17.5 per cent of the total current expenditure

At $76.6 bn, India's military spending third highest in world: SIPRI report

In a drive to strengthen the indigenous arms industry, 64 per cent of capital outlays in the 2021 Indian military budget was earmarked for acquisitions of domestically-produced arms, the report said

World military expenditure passes $2 trn for first time; US on top: SIPRI

The five largest spenders in 2021 were the United States, China, India, the United Kingdom and Russia, together accounting for 62 per cent of expenditure, it said

Canada to provide Ukraine with $398 mn loan amid Russian military operation

The Ukrainian Finance Ministry said it had signed a $398 million loan agreement with the Canadian government amid the Russian military operation.

Biden approves $800 million in new military assistance for Ukraine

President Joe Biden has approved an $800 million package of military assistance, including additional helicopters and the first provision of American artillery.

US likely to announce $750 mn new military aid package for Ukraine

The United States is likely to announce a new military aid package worth $750 million for Ukraine amid the ongoing war in the country

Canada to increase military expenditures by $6.4 bn in next 5 years

Canada intends to increase military spending by some USD 6.4 billion (CAD 8 billion) over the next five years, the Department of Finance announced in the Federal Budget.

Russia to strengthen military capabilities to counter NATO threat

Russia has no other options than to strengthen its military capabilities amid an increasing threat of the North Atlantic Treaty Organization (NATO), Security Council Secretary Nikolai Patrushev said

China frets about 'arms race' as Japan plans to increase military spending

Beijing has expressed concern over Tokyo's plan to increase military spending to counter China, and has accused its neighbouring country of stoking military tensions in the region

Defence Budget: Military gets 28% less budget than it projected

Money requested for equipment modernisation slashed by 38 per cent

Turkey widens war technology hunt by tapping Pakistan's China ties

A deal would get Nato-member Turkey closer to some of China's military technology

Military sees small increase in budget even as China standoff simmers

Both India and China have moved thousands of soldiers, tanks, artillery to the disputed border

British govt announces largest military investment since Cold War

Prime Minister Boris Johnson said the extra spending reflected the need to upgrade military capabilities, with plans for a new space command and artificial intelligence agency

Boris Johnson unveils largest military spend since the end of the Cold War

The mega investment plan will fund space and cyber defence projects and is expected to create thousands of new jobs

Defence budget may be slashed by 40%, may save Centre Rs 80,000 crore

Addressing an audience of defence analysts in Delhi, the MoD official confirmed reports that the government had ordered the military to limit its first quarter

India's defence cost: High on personnel and low on modernisation

The most recent Indian budgetary figures put India's defence expenditure for FY20 at $59.7 bn which is less than SIPRI's estimates and actually puts India at 5th, behind both Russia and Saudi Arabia.

India to follow new policy of staggered procurement in major military buys

The chief of defence staff said government is adopting the new approach to encourage the domestic defence industry as total reliance on import will not serve the Make in India initiative

Def Ministry approves procurement of military hardware worth Rs 5,100 crore

It was the first meeting of the DAC after appointment of the Chief of the Defence Staff