India’s Ministry of Defence (MoD) plans to reallocate a large proportion of about INR558.92 billion (USD8.46 billion) lying unspent with nine Defence Public Sector Undertakings (DPSUs), to supplement defence budgets for long-delayed military modernisation.
Official sources said a recent internal audit revealed that for decades the MoD had ‘routinely parked’ money earmarked for materiel acquisitions in the annual defence budget with these DPSUs, following its inability to employ it within the respective fiscal years (FYs).
The MoD review disclosed that in some instances advances to DPSUs like Hindustan Aeronautics Limited (HAL) in Bangalore dated back to the mid-1970’s that still remained unaccounted for.
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