Defence Minister increases the financial power of VCs of Armed forces by 5 times

Defence Minister Nirmala Sitharaman has increased the financial power of vice-chiefs of Indian Army, Navy and Air force by 5 times to ensure the armed forces can buy or build up more ammunition stocks and undertake other projects through revenue procurement.

The vice-chief of armed forces will be now able to take decision or sign the deal upto Rs. 500 crores after this decision.

“Defence minister Nirmala Sitharaman took this step to augment the arms and ammunition reserves of the armed forces and enhance their operational preparedness,” said an MoD official said on Thursday.

The delegation of greater financial power to the Vice Chief would expedite the procurement of such items and enhance the operational preparedness of the three services, the ministry also said. Aimed at augmenting availability of arms & ammunition with Armed Forces & to enhance their OP preparedness, MoD enhances Financial Powers of Vice Chiefs of Tri-Services by upto 5 times to Rs. 500 crore,” the ministry also said.

The government is also thinking about long term plan of Rs. 15000 crores and it is in final process and main motive of the plan is to enhance the domestic manufacture with private company and get the seven different type of ammunition to slowly remove the country’s heavy  import dependence on other countries.

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