New Delhi: Minister of State for Defence Shripad Naik on Monday said that an amount of Rs. 90,048 crore has been allocated for Capital Acquisition (Modernization) in BE 2020-21 under Defence Service Estimates which is an increase of Rs. 9,088.92 crore over BE 2019-20 allocations. The total amount allocated for Capital Acquisition (Modernization) is 27.87% of Defence Services Estimates.
Government is taking measures for modernisation of Armed Forces, through procurement of new equipment and upgrading of existing equipment and systems.
The modernization projects are being progressed as per approved capital acquisition plan and in terms of extant Defence Procurement Procedure.
Naik was responding to Rajya Sabha MPs P Bhattacharya and Vijay Pal Singh Tomar.