Financial Powers of Indian Armed Forces Enhanced by Five Times by Defence Ministry For Simplifying Procurement Process
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New Delhi, November 8: In a bid to simplify the process of procurement of arms and ammunition, the Defence Ministry has enhanced the financial powers of the three vice chiefs of the armed forces by five times. The move will upgrade the defence preparedness of the forces. In March, the vice chiefs were granted additional powers to carry out specific procurement to ensure operational preparedness. The vice-chief of all the three wings of the armed forces will now be able to decisions up to a limit of Rs 500 crore.

"The ministry has enhanced the financial powers of the three vice chiefs from Rs 1 billion to Rs 5 billion, thus effecting a five-time increase for augmenting procurement of arms and ammunition and upgrade of defence preparedness," Defence Ministry Spokesperson Col. Aman Anand told reporters on Thursday. A number of initiatives have been taken by the Defence Ministry in the recent past to simplify and streamline the procedures and decentralise the decision-making through delegation of powers. India, Russia To Conclude Deals On Frigates And Kalashnikovs In 2-3 Months Despite US Sanctions, Says Russian Ambassador

The government is taking steps to procure weapons to at least 10 days of intense fighting. Recently, India signed defence deals with Russia and Israel to procure advanced weaponry for the forces. In October, India concluded $ 5 billion deal with Russia to purchase advanced air defence system, S-400 ‘Triumf’ missiles during Russian president Vladimir Putin’s visit to India.

New Delhi also concluded a deal of $950 million with Moscow to procure two frigates while, an agreement to indigenously develop remaining two frigates under the Project 11356 class will also be concluded soon. Recently, Israel Aerospace Industries (IAI) also got a contract of $777 million to supply Barak-8 missile defence system.

(With inputs from PTI)