Article Posted on : - Sep 05, 2012

NEW DELHI (PTI): India has spent around Rs two lakh crore for procuring defence equipment for its armed forces in the last three years, the Rajya Sabha was informed Wednesday.

"Rs 1.98 lakh crore has been the total expenditure on procurement of defence equipment for armed forces during the last three years," Defence Minister A K Antony said in a written reply.

India has undertaken a major military modernisation drive under which it is planning to spend more than USD 100 billion in the next five years for procuring weapon systems for the armed forces.

It is in the process of signing several big-ticket deals including multi-billion contracts for procuring 126 multi-role combat aircraft, 197 helicopters for Army and Air Force and artillery guns worth over Rs 20,000 crore for the Army.

In recent times, it procured six C-130J Super Hercules aircraft for the IAF, several tankers and warships for the Navy and also embarked on major upgrade programmes of existing inventory of tanks and aircraft in armed forces' fleets.

Giving the break-up of the above expenditure in the last three years, the Defence Minister said Rs 56,507 crore was spent in 2009-10, Rs 67,138.38 crore in 2010-11 and Rs 74,408 crore in the last fiscal.