MODERNISATION FUND FOR THE ARMED FORCES
India - Press Information Bureau
Ministry of Defence
Posted On: 11 FEB 2022 5:01PM by PIB Delhi
Details of allocation made to the Armed Forces under Capital Acquisition (Modernisation) Head of Defence Services Estimates for the Financial Year 2021-22 and 2022-23 are as under:
| Year | BE Allocation |
| 2021-22 | 1,11,463.21 |
| 2022-23 | 1,24,408.64* |
* Figures are yet to be approved by the Parliament
The allocated funds cater to the Committed Liabilities and New Schemes of the Armed Forces under Capital Acquisition (Modernisation) head. These funds are optimally utilized towards operational activities and if required, the schemes are reprioritized to ensure that urgent and critical capabilities are acquired without any compromise to operational preparedness of Defence Services.
Allocation made under Modernisation Head to the Armed Forces form a part of the Capital Budget of the Defence Services. The following proposals are being planned under the Strategic Partnership Model:
| Sl No | Scheme |
| 1. | Naval Utility Helicopter (NHU) |
| 2. | Project 75(I) Submarines |
This information was given by Raksha Rajya Mantri Shri Ajay Bhatt in a written reply to Shrimati Rita Bahuguna Joshi in Lok Sabha on February 11, 2022.
ABB/Nampi/Savvy
(Release ID: 1797640)
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