(Editor’s Note: The currency conversion in paragraph one has be corrected to reflect accurate figure in US Dollars.)
New Delhi: India’s Ministry of Defence today delegated financial powers up to Rs 300 crore ($40 million) to the armed forces to make emergency procurement of weapons and equipment to meet the military situation along the de facto borders with China, even as the Asian dragon has been breathing fire in Ladakh.
At a special meeting of the Defence Acquisition Council (DAC), the highest procurement decision making body headed by Minister of Defence Rajnath Singh, delegated the powers for progressing urgent capital acquisition cases up to the armed forces, exercised by the Vice Chiefs of the army, navy and the air force.
“Considering the security environment due to prevailing situation along the northern borders and the need to strengthen the armed forces for the defence of our borders, a special meeting of the Defence Acquisition Council was convened on 15th July 2020 under the chairmanship of defence minister Rajnath Singh,” an official statement said.
“The DAC delegated the powers for progressing urgent capital acquisition cases upto Rs 300 crore to the armed forces to meet their emergent operational requirements. This will shrink the procurement timelines and ensure placement of orders within six months and commencement of deliveries within one year,” the two-line statement said.