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Services can now get special financial powers for capital acquisition

According to an official statement released by the Ministry of Defence (MoD), this power has been delegated for fast-tracking urgent capital acquisition cases up to Rs. 300 crore for the three services. 
 
According to sources, there has been a focus on stock up ammunition, which would help the Indian Army. (IE photo)

In view of the growing border tensions between India and China, special financial powers have been approved by the Defence Acquisition Council (DAC) headed by defence minister Rajnath Singh on Wednesday. This is expected to help the three services for individual capital procurement programme worth Rs. 300 crore to help meet the urgent operational requirements. There is no specific cap has been mentioned on the number of procurements, each acquisition under the emergency requirement the category should not cost more than Rs. 300 crore.

According to an official statement released by the Ministry of Defence (MoD), this power has been delegated for fast-tracking urgent capital acquisition cases up to Rs. 300 crore for the three services.

How will this extra-ordinary power help?

Besides shrinking the timelines, it will help in ensuring that the orders are placed within six months and deliveries start coming within a year.

This decision was taken by the DAC keeping in mind the current security situation along the northern borders and to help strengthen the soldiers who are deployed along the hostile borders.

The services have already started placing orders for a wide range of military equipment, weapons and platforms since the tensions have escalated between the two sides along the Line of Actual Control (LAC) in Ladakh.

Under these special powers, the government can buy military hardware, ammunition and weapons at short notice. Following this, the government has also relaxed rules under which the three services can buy weapons and equipment from a single vendor.

According to sources, there has been a focus on stock up ammunition, which would help the Indian Army.

It may be mentioned here, that the defence minister has asked all the three services — Army, Navy and Air Force to enhance their operational readiness along the Line of Actual Control.

Amidst fears of confrontation Defence Minister Rajnath Singh has already directed the Army, the Indian Navy and the Indian Air Force to enhance their operational readiness along the LAC — which is the 3,500 km the de-facto border between India and China.

  Source : Financial Express  

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