MoD Utilises 65.50% Capital Acquisition Budget On Domestic Procurement Along With 99.50% Defence Services Budget In FY 2021-22

By Staff Correspondent

Ministry of Defence (MoD) had earmarked 64 per cent of the Capital Acquisition Budget for the domestic industry in Financial Year (FY) 2021-22. At the end of FY 2021-22, MoD has been able to overachieve this target and has utilised 65.50 per cent of the Capital Acquisition Budget on indigenous procurements through Indian Industry to achieve Prime Minister Narendra Modi’s vision of ‘Aatmanirbhar Bharat’. Further, as per the preliminary expenditure report of March 2022, the MoD has been able to utilise 99.50 per cent of the Defence Services Budget in FY 2021-22.