Offensive Defence

Government could issue bonds to make up for shrinking defence budget, says former defence secretary

The Centre may issue bonds to make up for the lack of resources and contracting defence budget, former defence secretary G Mohan Kumar has suggested. He said the government’s revenue is already stressed due to the coronavirus pandemic and increasing the budget may be “nearly impossible”.

“The capital budget should be made non-lapsable so that there is certainty about the availability of funds for ongoing schemes. The government could even think of floating national defence bonds to augment resources,” LiveMint quoted Kumar as saying.

Speaking about the Centre’s Atmanirbhar Bharat initiative, Kumar said that India needs to get a “firm foothold in hi-tech areas” to become self-reliant.

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