EMERGENCY FINANCIAL POWER (ARMED FORCES) SCHEME :

EMERGENCY FINANCIAL POWER (ARMED FORCES)  

 

CONTEXT:-

The Army procured spike-LR Anty-Tank Missile from ISRAEL and LGLA-S VSHORAD from Russia through a set of new Financial power for emergency procurement's.

DETAILS:-

# The ministry of defence sanctioned new emergency financial powers to three Armed force's ( Indian Army, Indian Nevi, Indian Air force)

# Under the latest emergency financion power, 

Armed forces have been given a free hand to procure critical equipment worth up to Rs 300 crore on a priority basis.

# Entirely new system not only in use can also procured under the new power.

# Under the route, the request for proposal (RFP) for 2 deal's have been issued and negotiation are on going.

# The 2 deals are procuring SPIKE-LR ANTI-TANK Missile from ISRAEL and LGLA-S very short range Air Defence System (VSHORAD) from RUSSIA.