Passionate About India: Invest in R&D; else, the Rs 2.03 lac crore allocat...:
A defence budget of Rs 2.03 lac crore is certainly good news for India but not good enough for it to rejoice because the procurement model itself is fraught with enormous opportunity costs. Plus, the factor of corruption that is being uncovered every now and then in various deals adds to its limitations. General V. K. Singh’s deliberations can be only the tip of the iceberg as there can be more than a few skeletons in the closet. The beginning of the long line of defence scams started with the Bofors scam in 1987 that involved an alleged kickback of Rs.64 crores – an astronomical figure in those days – for the purchase of the Swedish 155mm howitzers.
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