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Cut Back in India's Defence Budget?

Cut Back in India's Defence Budget? Media reports indicated on 08 November a likely cut back in India’s Defence Budget 2012-13. One news channel even went on to predict a deep cut of around Rs 20,000 Crore or USD 4 billion. These reports emanate from an expenditure review meeting by the Defence Minister Mr A K Antony in which he is reported to have asked the military top brass to prioritise purchases and prevent a crisis for critical requirements in the end of the financial year (March 2013). The Times of India has quoted sources to indicate that the defence ministry has spent Rs 26,500 crore out of the Rs 66,000 crore capital budget. There is a dichotomy as the total allotments for 2012 -13 as per the Paper are Rs 79,578.63 crore. "The booked expenditure this year is better than la...
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