Defence budgets are opportunities for discussing and suggesting alternatives to overcome the resource constraints. But most reactions to this year’s defence budget have not gone beyond usual discordant notes of disappointment, dissatisfaction and the so-called ill effects on the services’ modernisation programme.
Fulcrums of opinion, however, miss out that the defence budget, pegged at 2 per cent of the GDP, is in sync with progressive trends in defence economics. The real challenge is to discuss those core economic reforms in the defence sector that would facilitate optimisation of the official budget along with revenue supplementation.
Nearly all reactions to the defence budget boil down to one thing: shortage of funds for buying new weaponry. Given the fund commitments and outstanding liabilities, we may have to stagger some procurement payments for subsequent financial years Read More