Indian MoD returns to underspending trend
By Jon Grevatt
After a rare overspend in Fiscal Year 2010-11, the Indian Ministry of Defence (MoD) returned to a trend of underspending in its military procurement budget in FY11-12.
In FY11-12 the MoD failed to use INR30.55 billion (USD606 million) of procurement funds, FY12-13 budgetary documents reveal. The amount represents 4.4 per cent of the total procurement expenditure of INR691.98 billion, which was subsequently revised to INR661.43 billion.
The FY12-13 defence budget - which was announced by the Indian government on 16 March - stands at INR1.93 billion, with procurement allocated INR795.8 billion.
The budgetary data relating to FY11-12 show an erratic spending pattern with considerable underspending in some areas while others have overspent, with the former higher than the latter.119 of 375 words
- Philippine air chief says Italy will provide attack helicopters
- Germany axes Euro Hawk
- Boeing poised to begin flight-testing Advanced Super Hornet features
- The Ford-class aircraft carrier, the future US Navy: Enabling the distributed force
- Boeing unveils Phantom Badger
- Rheinmetall debuts Oerlikon Revolver Gun Mk 2
- US Army trains with SpotterRF's man-portable radar
- Al-Qusayr battle is critical for Syrian government
- Northrop Grumman tests B-2 anti-jamming satcomms system without USAF's preferred radio
- India fails to make progress with AW101 inquiry