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India Slash In Defence Budget 2012-13?

India Defence Budget: Challenged by Fiscal Deficit          Modernisation constraints for the armed forces are likely to increase with a possible cut back in defence budget for fiscal 2012-13 apart from inflation, exchange rate variation, procurement inefficiencies and integrity. With a no-nonsense finance minister in Mr P Chidambaram, it is time that the military look for fiscal and procedural efficiency to ensure that modernization remains on track. India’s defence expenditure for the 2012 -13 may be challenged by attempts by the government to rein in the fiscal deficit. From the point of view of economic prudence a fiscal deficit that is around 5 percent of the GDP is recommended by most analysts for the current financial year. India i...
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Helpline 1090