Day-2
Thu. 10 Feb. 2011
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[ t o d a y ] Violent Neighbourhood 02
Defence Minister launches SP’s MAI fortnightly
Will Push Up India’s Defence Spending: Antony
Photograph: S. Radhakrishna
By Vishal Thapar
Photographs: Wg Cdr (Retd) R.S. Chauhan
V
iolent disturbances in its neighbourhood will force India to increase its defence spending, Defence Minister A.K. Antony declared while inaugurating Aero India 2011, India’s largestever airshow, which got off to a flying start at Yelahanka on Wednesday. “India has always been a votary of peace. Yet, violent disturbances in our immediate and extended neighbourhood pose security challenges for our nation and the region as a whole. Our Government is steadfast in its resolve to meet any challenge. We are, therefore, commiktted to ensure rapid modernisation of our armed forces and equip them with state-of-the-art systems, equipment and platforms. Our current defence expenditure – 2.5 per cent of the GDP – is consistent with our projected security requirements, and is bound to increase over the next two decades,” Antony said in his inaugural speech at the Eighth edition of the show. India’s defence budget for the current fiscal is over $32 billion, of which $13 billion is earmarked for capital outlays. 1
February 10, 2011
Aerospace requirements in particular will push the defence budget. Revealing the Government’s official estimates of the size of the aviation market – both military and civil – till 2030, Secretary Defence Production R.K. Singh said India is likely to spend $150 billion to meet its rapidly increasing requirements. Defence Minister A.K. Antony concurred, saying that India is the fastest growing aerospace market in the world. Putting his weight behind self-reliance in the defence
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[ Meet the Press ] P 4
MMRCA deal in a year
A.K. Antony Minister of Defence