In a big boost to India’s self-reliance in the defence, the government on 20 April announced that it has utilised 65.5 per cent of capital acquisition budget on domestic procurement in financial year 2021-22.
“Ministry of Defence (MoD) had earmarked 64 per cent of Capital Acquisition Budget for domestic industry in Financial Year (FY) 2021-22.,” an official release said.
“At the end of FY 2021-22, MoD has been able to over achieve this target and has utilised 65.50 per cent of Capital Acquisition Budget on indigenous procurements through Indian Industry to achieve Prime Minister Shri Narendra Modi’s vision of ‘Aatmanirbhar Bharat’, the Defence Ministry said in a release. “Further, as per preliminary expenditure report of March 2022, MoD has been able to utilise 99.50 per cent of the Defence Services Budget in FY 2021-22,” it added.
