India spent more on defence acquisitions this fiscal: Antony

India spent more on defence acquisitions this year than last year to equip its armed forces with the latest arsenal, Defence Minister AK Antony said.

India spent more on defence acquisitions this year than last year to equip its armed forces with the latest arsenal, Defence Minister AK Antony said on Tuesday.

HT Image

"We have spent highest percentage of funds for defence acquisitions this fiscal (2009-10) so far. It is more compared to what we spent in the last fiscal (2008-09)," Antony told reporters in Bangalore.

Asserting that there was no budget constraint for defence acquisitions, Antony said the government would spend more in the ensuing fiscal and thereafter to modernise the armed forces with the latest weapons.

Antony, however, ruled out having a rolling budget for defence expenditure.