Defence Minister Rajnath Singh pushes for real-time economic analysis in defence budget

New Delhi [India], October 1 (ANI): Defence Minister Rajnath Singh, on Wednesday, while speaking at the Defence Accounts Department's 278th Foundation Day, emphasised the importance of using economic analysis to strengthen India's defence budget, while stating his vision of making the Defence Accounts Department a centre of excellence in defence, finance, and economics.
Singh said, "At my suggestion, the Controller General of Defence Accounts (CGDA) released two market intelligence reports. These reports assess the economic impact of the defence budget based on GEM (India's Government e-Marketplace) procurement. This is a good start. I believe that after full implementation, this economic analysis will be even more comprehensive and conducted in real-time through an automated system."
He further stated his vision of establishing the Defence Accounts Department (DAD) as a Centre of Excellence in defence and said, "At the recent Control of Conference, I released a vision document outlining the goal of establishing the Defence Accounts Department (DAD) as a Centre of Excellence in defence, finance, and economics... Therefore, I would like the CGDA to develop a complete action plan so that this vision document can be truly implemented..."
Earlier, Defence Minister Rajnath Singh, while speaking at the Defence Accounts Department's 278th Foundation Day, highlighted the need to create an innovative ecosystem to boost research and development in the country, which can enhance the defence sector in the face of changing warfare.
Defence Minister Rajnath Sight said that modern warfare is becoming "technology-oriented. "Modern warfare is becoming more and more technology-oriented, which is unbelievable. These days, new technologies are used as a surprise element on a large scale in warfare. This creates a concerning situation for us as well. The modern technology used in modern warfare is based on years and years of research and development, and hence, we cannot ignore it," he said.
He further said, "It now demands that we prepare an innovative ecosystem that upgrades our defence sector. We all should work in that department."
Defence Minister Rajnath Singh said, "Things are changing around us, looking at them, the requirement in security is also increasing, and that is why the defence budget is also increasing year after year."
Highlighting the defence budget, he added that with an increase in budget, the responsibility to use it wisely also doubles. Mentioning the role of the Defence Accounts Department, he said, "I want to say that the need for research and development today poses a challenge to DAD, on how to manage the fund while funding the research and development as well."
He also highlighted the government's commitment towards booting technology development and said, "With increasing technology development fund and along with DRDO, we are working to increase technology development." standardisation, it doesn't mean that the armed forces will lose their identity... We cannot impose the same procedure on every military... We must develop a system that coordinates the work of all three services... I am confident that we will discuss this. The Ministry of Defence will provide all possible support..." Singh said while addressing the seminar. (ANI)