Defence Ministry not spending funds wisely enough: FM

Tags: News
Against the backdrop of recent submarine mishap, Finance Minister P Chidambaram today suggested that the Defence Ministry is not spending the funds "wisely" enough and contended the maintenance of the military assets was being neglected.

He insisted that the Finance Ministry provides "a lot of money" to the Defence Ministry and "I sincerely hope that the defence forces will learn a lesson and make sure that the money allotted to them is spent more wisely and more efficiently on essential matters."

Chidambaram was responding when questioned by an NSUI member claiming to be sister of one of victims over the provision of sufficient funds to the Defence Ministry.

At a function organised by Congress' student wing NSUI here, the woman said Lt Commander Kapish Muwal, who died in the mishap on INS Sindhuratna, was her brother and asked Chidambaram "why the government is not sanctioning money for security and safety" as casualties are taking place.

She also referred to the sinking of another submarine INS Sindhurakshak a few months back and said the armed forces are going for refits as they shortage of finances.

Rejecting the view that adequate finances are not provided for the armed forces, Chidambaram said, "As far as defence expenditure is concerned, I think it is not correct to say that enough money is not being provided. There is no such thing as 'enough'."

Chidambaram noted that this time the Finance Ministry has allocated Rs 2.25 lakh crore for the defence, which is a "lot of money".

"...For defence, believe me, we have provided the maximum amount that we can," he insisted.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Not the best gift for Modi, but bypoll result may not affect BJP in long run

    In India’s hardball political landscape, there is little place for anyone to rest on their laurels, not the least if you are a successful prime mini

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Scientific and field level know-how

Recently addressing the scientists of the Indian Council of Agricultural ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture