Govt committed to reduce imports in defense sector

Govt committed to reduce imports in defense sector

The government is committed to reduce imports and promote self-reliance in the defence sector, Finance Minister Nirmala Sitharaman said on Tuesday. She said that 68 per cent of capital for the defence sector would be earmarked for the local industry. Sitharaman also said that 5 per cent of Universal Service Obligation (USO) Fund would be provided for

The government is committed to reduce imports and promote self-reliance in the defence sector, Finance Minister Nirmala Sitharaman said on Tuesday. She said that 68 per cent of capital for the defence sector would be earmarked for the local industry.

Sitharaman also said that 5 per cent of Universal Service Obligation (USO) Fund would be provided for R&D and technology upgradation. “Contracts for laying of optical fibre net to all villages under BharatNet to be provided under PPP mode,” she added.

Further, she noted that risks of climate change are the strongest externalities for the world and a low carbon development strategy would open employment opportunities.

Posts Carousel

Leave a Comment

Your email address will not be published. Required fields are marked with *

Latest Posts

Top Authors

Most Commented

Featured Videos