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Indian army has no money to buy new weapons. Is the govt listening?

Indian army has no money to buy
new weapons. Is the govt listening?
Stock Market1 min read

If you were amongst them who believed that the government is spending too much on defence, here’s a shocker! The army has actually run out of money that would help it buy new, modernized weapons and is knocking on the Government’s doors. The Indian military report submitted to the parliamentary standing committee has informed that Indian army lacks money to buy weapons.

As per a news report in The Economic Times, the report on the military's concerns was submitted last week and India's generals explained that thanks to a record low budget allocation this year, defence forces won't be able to buy operationally critical equipment like artillery guns, carbines, missiles and antitank systems for the army as well as patrol vessels and surveillance helicopters for the coast guard.

This year's budget gave a hike of 7.9 per cent in military spending, and as a percentage of GDP, total defence spending is 1.7 per cent " the lowest since 1960s. India's army has said the country's defence budget should be brought up to 3 per cent of GDP. China's defence spending is 2 per cent of GDP, Pakistan's 3 per cent, America's 3.8 per cent and Russia's 4.1 per cent, according to ministry of defence estimates.

As per the report, the army has identified 20 key projects it wants to sign but that the "money is not there". "Yes, alot needs to be modernised. We are aware of it. We have got our plans but finally there is a funds crunch. That is being reflected in the way funds get sanctioned on the ground," a senior army Lieutenant General told the panel. The financial daily informs, defence brass is typically not identified in submissions made to House panels.

(Image: Reuters)

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