The modernisation plan for the Indian military has been chalked out in a medium-term roadmap called ”Long Term Integrated Perspective Planning” for 2012 to 2027.
The report also states that this is for the first time the Defence Ministry has asked a detailed financial projection for modernisation of Army, Navy and Air Force. The MoD seeks an annual 8 per cent hike in existing capital spending that allocated in each year’s budget for new military equipment meant for the three wings.
Defence Minister Manohar Parrikar has asked his ministry to project the expected cost of modernisation of weapon systems. Parrikar has asked the official of Defence Ministry to work on the expected outflows annually in Defence’s budget over the next decade.
The MoD has also laid down a plan to cut on unnecessary expenditure by clubbing together procurement of three services to prevent duplication of efforts and wasteful expenses.
With strength of over 1.3 million active personnel, Indian Army is world’s third largest military force and has the world’s largest volunteer army. During the financial year 2015–16, the government allocated for about $60 billion for “defense and security”.