{"id":18628,"date":"2022-02-02T02:56:40","date_gmt":"2022-02-01T21:26:40","guid":{"rendered":"https:\/\/www.trishuldefenceacademy.in\/blog\/?p=18628"},"modified":"2022-02-02T02:56:40","modified_gmt":"2022-02-01T21:26:40","slug":"defence-minister-rajnath-singh-welcomes-huge-announcement-for-defence-sector-in-budget-2022","status":"publish","type":"post","link":"https:\/\/www.trishuldefenceacademy.in\/blog\/defence-minister-rajnath-singh-welcomes-huge-announcement-for-defence-sector-in-budget-2022","title":{"rendered":"Defence Minister Rajnath Singh\u00a0Welcomes Huge Announcement For Defence Sector In Budget 2022"},"content":{"rendered":"<p>Defence Minister\u00a0Rajnath Singh\u00a0on Tuesday described as an \u201cexcellent move\u201d the proposal in the Union Budget to set aside 25 per cent of the defence R&amp;D budget for start-ups and private entities in the financial year 2022-23. Singh also welcomed Finance Minister Nirmala Sitharaman\u2019s announcement that 68 per cent of the defence capital procurement budget would be allocated towards procurement from domestic industry.<\/p>\n<p>\u201cThe 68 percent of defence capital procurement budget has been allocated towards local procurement. It is in line with the \u2018Vocal for Local\u2019 push and it will certainly boost the domestic defence industries,\u201d Singh tweeted.<\/p>\n<p>He said substantial amounts have been allocated towards research and development in several sectors including defence.<br \/>\n\u201cThe proposal to reserve 25 percent of the R&amp;D Budget for Startups and Private entities is an excellent move,\u201d the defence minister said.<\/p>\n<p>In her budget speech in Parliament, Sitharaman said the government is committed to reducing imports and promoting self-reliance in equipment for the armed forces. \u201cSixty-eight per cent of the capital procurement budget will be earmarked for domestic industry in 2022-23, up from 58 per cent in 2021-22,\u201d she said.<\/p>\n<p>The finance minister said defence research and development will be opened up for industry, start-ups and academia with 25 per cent of the defence R&amp;D budget earmarked for it. \u201cPrivate industry will be encouraged to take up design and development of military platforms and equipment in collaboration with DRDO and other organisations through SPV (special purpose vehicle) model,\u201d she said.<\/p>\n<p>Sitharaman said an independent nodal umbrella body will be set up for meeting wide-ranging testing and certification requirements.\u201dCongratulations to Finance Minister, Smt @nsitharaman on presenting an excellent Union Budget for 2022-23. It is a Budget which would give fillip to \u2018Make in India\u2019, boost demand and build capacities for a stronger, prosperous and confident India,\u201d Singh said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Defence Minister\u00a0Rajnath Singh\u00a0on Tuesday described as an \u201cexcellent move\u201d the proposal in the Union Budget to set aside 25 per cent of the defence R&amp;D budget for start-ups and private entities in the financial year 2022-23. Singh also welcomed Finance Minister Nirmala Sitharaman\u2019s announcement that 68 per cent of the defence capital procurement budget would be allocated towards procurement from domestic industry. \u201cThe 68 percent of defence capital procurement budget has been allocated towards local procurement. It is in line with the \u2018Vocal for Local\u2019 push and it will certainly boost the domestic defence industries,\u201d Singh tweeted. He said substantial<\/p>\n","protected":false},"author":1,"featured_media":18633,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[359],"tags":[3873,363,3872,384],"class_list":["post-18628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defence-news","tag-budget-2022","tag-defence-news","tag-defence-sector","tag-rajnath-singh"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Defence Minister Rajnath Singh\u00a0Welcomes Huge Announcement For Defence Sector In Budget 2022 - Trishul Defence Academy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.trishuldefenceacademy.in\/blog\/defence-minister-rajnath-singh-welcomes-huge-announcement-for-defence-sector-in-budget-2022\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Defence Minister Rajnath Singh\u00a0Welcomes Huge Announcement For Defence Sector In Budget 2022 - Trishul Defence Academy\" \/>\n<meta property=\"og:description\" content=\"Defence Minister\u00a0Rajnath Singh\u00a0on Tuesday described as an \u201cexcellent move\u201d the proposal in the Union Budget to set aside 25 per cent of the defence R&amp;D budget for start-ups and private entities in the financial year 2022-23. Singh also welcomed Finance Minister Nirmala Sitharaman\u2019s announcement that 68 per cent of the defence capital procurement budget would be allocated towards procurement from domestic industry. \u201cThe 68 percent of defence capital procurement budget has been allocated towards local procurement. It is in line with the \u2018Vocal for Local\u2019 push and it will certainly boost the domestic defence industries,\u201d Singh tweeted. 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