Allocation of Rs 99,223.03 crore for procurement through Domestic sources
In line with Government of India initiative of ‘Aatmanirbhar Bharat’ and to promote self-reliance in defence sector, funds under Modernisation Budget (Capital Acquisition) for Financial Year 2023-24 has been earmarked in the ratio of 75:25, where 75% i.e. Rs 99,223.03 crore is
In line with Government of India initiative of ‘Aatmanirbhar Bharat’ and to promote self-reliance in defence sector, funds under Modernisation Budget (Capital Acquisition) for Financial Year 2023-24 has been earmarked in the ratio of 75:25, where 75% i.e. Rs 99,223.03 crore is for procurement through Domestic sources and 25% i.e. Rs 33,078.24 crore is for Foreign Procurement. The policy initiatives such as Make in India/ Aatmanirbhar Bharat Abhiyan, have given a push to the growth of Industries including MSMEs/Start-ups in Defence Sector which has created tremendous employment opportunities.
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