In a big boost for defence forces, Cabinet clears procurement of Akash missile system at Rs 5500 crore

Key Highlights

• The Ministry of Defence is also working on tweaking the Defence Procurement Policy
• Procurement of 83 LCAs may be formalised within the next few months.  
•      The Union Cabinet has cleared a mega Rs 5500 crore project for the procurement Akash Surface to Air Missile and 83 light combat aircraft. According to sources, contract for 15 light combat helicopters is also likely to be signed this year. Moreover, in what is likely to simplify the procurement of weapons, the Centre is expected to roll out a new defence procurement policy by March 2020. According to a report by Times Now channel, the Cabinet cleared the purchase of Air Defence missile system Akash worth Rs 5500 crore. The clearance from the Cabinet Committee on Security (CCS) was came a few days
  The decision is significant, given that it underlines the government's focus on Make in India and the emphasis on procuring Indian defence equipment. While Akash has been developed by the DRDO and produced by Bharat Dynamics Limited (BDL), LCA is a flagship platform developed by Hindustan Aeronautics Limited (HAL).
  ago, however, the announcement regarding the clearance was made on Thursday.
  According to the report, the crucial contract for 83 Light Combat Aircraft (LCA) is like to be signed in the next few months, probably towards the end of the year. The development is significant given that the IAF is in dire need of replacing its existing fleet of fighter jets. In fact, it is set to welcome the first batch of French Rafale fighter jets by month-end.
  
  What is also likely to further simplify the rules guiding defence procurements and provide the much-needed framework for procuring home-developed defence equipment, the Ministry of Defence is also in the process of tweaking the Defence Procurement Policy (DPP). The DPP is likely to be revamped and according to the report, the process has already been kicked off and committees and sub-committees have already been formed.
  
     timesnownews