Economy
Union Budget 2022: 68 Per Cent Of Capital Procurement Budget For Defence To Be Earmarked For Domestic Industry
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Union Finance Minister Nirmala Sitharaman on Tuesday (1 February) presented the Union Budget 2022-23 in the Parliament.
In the budget speech, the Finance Minister announced that 68% of the capital procurement budget for defence will be earmarked for domestic industry.
She also announced that defence R&D will be opened up for industry and start-ups whilst adding that an umbrella body will be be set up for certification of defence equipment.
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