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India s 2021-22 Defence Budget Needs Honest Financial Reckoning, Not Empty Rhetoric Over the decades, successive finance ministers have routinely promised that there will be no shortage of funds for the armed forces, but the reality remains otherwise. Indian army officers stand on vehicles displaying missiles during the Republic Day parade in New Delhi, India, January 26, 2016. REUTERS/Altaf Hussain Security09/Jan/2021 Indiaâs military faces a massive financial predicament in the fiscal year 2021-22, as it remains locked in a costly faceoff with Chinaâs Peopleâs Liberation Army (PLA) along the Line of Actual Control (LAC) in eastern Ladakh. To meet this forbidding challenge, that shows no sign of abating, all three services are believed to have already executed emergency purchases of over $2 billion since June 2020 to plug enduring equipment and ammunition shortages, adversely upsetting budgetary calculations. It is undeniable that the services ....