Defence minister Rajnath Singh on Monday said nearly Rs 70,000 crore from the capital allocation of Rs 1.35 lakh crore in the defence budget would be reserved for domestic procurement and a second negative list of items for imports would be issued soon.
“The defence ministry has planned to invest about 63 per cent of the outlay for 2021-22, i.e. about Rs 70,221 crore, for domestic defence procurement during the period,” Singh said during a webinar on defence budget organised by the Society of Indian Defence Manufacturers (SIDM).
Overall, this year’s defence outlay is Rs 4.78 lakh crore, a nominal increase from Rs 4.71 lakh crore last year. The allocation for capital expenditure is Rs 1.35 lakh crore, up 19 per cent from last year’s Rs 1.13 lakh crore.
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Tecnam s P2010. Australian Flying was able to test-fly the aircraft before COVID-19 closed-down the GA industry in 2020. (Steve Hitchen)
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Looking Counter Clockwise
As aviation years go, 2020 will be memorable for a viral uncertainty that stymied any chance of growth and made even sustainability seem unachievable. That s the sort of thing that happens when a once-in-a-century pandemic dominates every industry, not just aviation. It was almost impossible to remain optimistic, especially for an industry so prone to pessimism. But it was not without cause; income streams ran dry for many operators and financial support from the Federal Government was nebulous despite the trumpeting from Canberra. For many regions, none more than metro Melbourne, the fun part of aviation had to be put on the backburner as pilots and operators focused on simply making it through the COVID storm.
Unimaginable we could be more than a midget : Anand Mahindra recollects steel sector of the 80s
Business tycoon Anand Mahindra, in a tweet, reminisced about the times when Japan dominated the steel industry lauding India s grit in overtaking the former to become the world s second largest steel producer in 2019
BusinessToday.In | January 6, 2021 | Updated 14:58 IST
Mahindra & Mahindra Chairman Anand Mahindra
Mahindra & Mahindra Chairman Anand Mahindra, who is known for his gripping and interesting tweets on several issues, took to the micro-blogging site to recall India s steel sector back in the 80s.
Retweeting a post by S P Shukla, chairman-Mahindra Defence and Mahindra Aerospace, and chair-Defence Committee, FICCI, the industrialist reminisced about the times when Japan dominated the steel industry like unshakeable gods lauding India s grit in overtaking the former to become the world s second largest steel producer in 2019.