New Delhi, Feb 28 (UNI) The continued hike in defence expenditure signalled the UPA Government's resolve to go ''full steam ahead'' with the modernisation of the Armed Forces, Defence Minister AK Antony today asserted.
In post-Budget 2007 reactions, the Defence Minister said he was ''satisfied'' with the commitment of extra funds being provided -- made by Finance Minister P Chidambaram in his Budget speech earlier in the day in Parliament, Minister Antony, however, said there had been ''some laxity in certain fields'' during the ongoing drive aimed at modernisation of the Armed Forces. '' Efforts will now focus on ensuring the upgradation of the arsenal of all three Services'', he promised.
Meanwhile, in a break with tradition, the Government made bold to hike the capital expenditure outlay in this field to almost 45 per cent of the total Defence Budget.
Officials explained that this was part of a new effort launched by the Defence Ministry to balance defence budgeting equally between recurring expenditure on items like salaries and the outlay for hardware and arms purchases -- a growing concept among Western military powers.
Striking a 50-50 ratio between expenditure and capital outlay was the brainchild of former Defence Minister -- and presently External Affairs Minister -- Pranab Mukherjee who held the defence portfolio till only last year.
Asked to comment on the Union Budget 2007 proposals relating to his previous Ministry, Mr Mukherjee averred that this indicated that ''we are moving in the right direction''.
UNI
In post-Budget 2007 reactions, the Defence Minister said he was ''satisfied'' with the commitment of extra funds being provided -- made by Finance Minister P Chidambaram in his Budget speech earlier in the day in Parliament, Minister Antony, however, said there had been ''some laxity in certain fields'' during the ongoing drive aimed at modernisation of the Armed Forces. '' Efforts will now focus on ensuring the upgradation of the arsenal of all three Services'', he promised.
Meanwhile, in a break with tradition, the Government made bold to hike the capital expenditure outlay in this field to almost 45 per cent of the total Defence Budget.
Officials explained that this was part of a new effort launched by the Defence Ministry to balance defence budgeting equally between recurring expenditure on items like salaries and the outlay for hardware and arms purchases -- a growing concept among Western military powers.
Striking a 50-50 ratio between expenditure and capital outlay was the brainchild of former Defence Minister -- and presently External Affairs Minister -- Pranab Mukherjee who held the defence portfolio till only last year.
Asked to comment on the Union Budget 2007 proposals relating to his previous Ministry, Mr Mukherjee averred that this indicated that ''we are moving in the right direction''.
UNI
Oneindia Login