Air force, navy stare at fund crunch next fiscal


The Indian Navy and the Indian Air Force will not have funds to pay for platforms and equipment they have agreed to buy (or have actually bought) in the past years in the coming financial year 2019-2020, unless the government allocates more money to them.

The Indian Army is better off, but in general the forces face a cash crunch, a senior defence ministry official, who did not want to be named, said.

The official’s assessment, corroborated by analysts and other experts HT spoke to, is based on the capital expenditure allocated to the forces in the interim budget 2019-2020, and their so-called committed liabilities towards capital purchases.

Defence minister Nirmala Sitharaman has already been briefed about this and has taken it up with the finance ministry, this person added. Read More

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