New Delhi February 22Defence Minister Rajnath Singh today said it was planned to allocate about Rs 70221 crore for procurement of defence equipment that is made in India. This means more than half of procurement would be done from Indian firms. The capital allocation for the fiscal 2021-22 is Rs 135060 crore. “This increase will have a positive impact on enhanced domestic procurement having multiplier effect on our industries including MSMEs and start-ups” Rajnath told a webinar organised by the industry chambers. At the same webinar PM Narendra Modi delivered a keynote address saying “It has been the endeavour of the government to move forward in the defence sector with transparency predictability and ease of doing business.” — TNS
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