A cost escalation of 50 percent (INR 63,000 crore, in this case) or more, requires approval again from the Ministry of Finance, before the Defense Acquisitions Council (DAC) can proceed with it. With the cost of the tender for India safely ranging from INR 83,000 crore to 1,25,000 crore, the revision of the estimated expenditure on the MMRCA would require the approval of the finance ministry.
Tag: Ministry of Finance
Defense proposal caught in red tape
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In the committee’s report on budgetary demands for grants for 2011-12 submitted to Lok Sabha(Indian Lower House of Parliament) Wednesday, the defense ministry has told the committee that differences with the finance ministry on its plan size had led to it not being finalized yet.
