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Home » Navy re-invested 64% of its budget into our own economy, says Rajnath Singh
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Navy re-invested 64% of its budget into our own economy, says Rajnath Singh

Editor's Desk, Tattva NewsBy Editor's Desk, Tattva NewsApril 29, 2022Updated:April 29, 2022No Comments3 Mins Read
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Defence Minister Rajnath Singh appreciated that “It is heartening to note that in consonance with the ‘AatmaNirbhar Bharat’ initiative of the Government, the Navy has re-invested over 64% of its Capital budget into our own economy am told that the percentage share of modernisation budget is bound to grow upto 70 percent towards indigenous procurement, in this current financial year” 

Addressing the Senior leadership of the Indian Navy on the concluding day of the Naval Commander’s Conference, he referred to the ongoing Russia and Ukraine conflict and stated that this has once again highlighted that being self-reliant without dependencies is a vital necessity.

Stating that he has interacted extensively with officers and sailors of Indian Navy in the last three years, Defence Minister commended the sea warriors for their professionalism and dedication with which they continue to perform the duty of safeguarding the Maritime interests of the nation and for maintaining a high Operational tempo. He also congratulated the Navy for successful conduct of MILAN with participation of 39 Friendly Foreign Countries.

He appreciated the Navy for having a visible, credible and responsive presence in the Indian Ocean Region and establishing itself as the ‘Preferred Security Partner’ and complemented the Navy for the successful rescue operations of Seychellois national at sea, the anti-Narcotics operations in Feb this year and deployment of the Navy’s Flood relief teams in Tamil Nadu and Andhra Pradesh.

Expressing happiness that out of 41 ships and submarines which are on order, 39 are being built in Indian shipyards, he said that it is important to leverage on the momentum that has been gained thus far and urged the senior leadership to maintain their focus on futuristic capability development, to ensure that the nation’s maritime power grows in tandem with the nation’s economic interests.

Speaking about the progress of first Indigenous Aircraft Carrier and the successful completion of the three sea trials, Raksha Mantri stated that the delivery of, Vikrant, would be another milestone event and that all out efforts need to be made so that the ship is delivered and commissioned in the 75th year of our Independence, which would be a fitting tribute to the ‘AzadikaAmritMahotsav’.

Expressing confidence that the Conference and the deliberations over the last three days would have presented the opportunity to Commanders to introspect on the ongoing activities; take stock of progress made, debate fresh ideas and reflect on how best to achieve objectives in the future, Hon’ble Raksha Mantri wished Indian Navy success in all its endeavours.

Atma Nirbhar Bharat Indian Navy Naval COmmander's Conclave Rajnath Singh
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