IAF funds crunch to hit MMRCA deal

[SirHatesALot]

These figures just don't add up- a $42 BN USD defence budget and only $372 MN for capital acquisitions? I call BS. Indian express is playing loose with the facts in my opinion. And free the MoD, ACM, Def Min and Fin Min have ALL said there's the funds there- funding or lack there of is not an issue or a reason for the delays.


It seems like once the MMRCA gets over one hurdle another one is found or fabricated to put in its path.


With all the past nay-Sayers found to be lieing or atleast incorrect I can't help but feel there is a very deliberate plan of mid-information being played out here.



The deal will Be singed in the coming months- END OF STORY.

INDIAN MEDIA IS A JOKE

 

[Storm Force]

Lets hope its signed...... But I have serious reservations as I mentioned in previous threads.

 

[Kloitra]

These figures just don't add up- a $42 BN USD defence budget and only $372 MN for capital acquisitions? I call BS. Indian express is playing loose with the facts in my opinion. And free the MoD, ACM, Def Min and Fin Min have ALL said there's the funds there- funding or lack there of is not an issue or a reason for the delays.


It seems like once the MMRCA gets over one hurdle another one is found or fabricated to put in its path.


With all the past nay-Sayers found to be lieing or atleast incorrect I can't help but feel there is a very deliberate plan of mid-information being played out here.



The deal will Be singed in the coming months- END OF STORY.

While the total modernisation budget for the IAF is $6.8 billion, the majority of it is under the committed liabilities head for projects that have been signed in the past. This includes projects like the C 17 transport aircraft, modernisation of the Mirage 2000 and MiG 29 fleet and deliveries of the Su 30 MKI fighters.

Under the head of 'new schemes', the IAF has been allotted a mere $372 million that experts say will not be adequate to cover the purchases planned this year. The MMRCA in particular, which will cost upwards of $12 billion, has not been budgeted for. As an industry norm, a payment of 5-10 per cent of the contract value has to be made at the time of signing. This itself will amount to $500 million, going by very conservative figures

But I had read some news before that the funds for MRCA have already been allotted. If there is already earmarked money for that purpose, they probably don't need to reassign any in every new budget.

 

[Abingdonboy]

But I had read some news before that the funds for MRCA have already been allotted. If there is already earmarked money for that purpose, they probably don't need to reassign any in every new budget.

Exactly this is why I said the Indian Express are playing loose with the facts and ommiting vital information.

 

[Thorough Pro]

When the number of months exceeds 12, it is always better to use the word "Years" and that is the reality too.

The deal will Be singed in the coming months- END OF STORY.

 

[Abingdonboy]

When the number of months exceeds 12, it is always better to use the word "Years" and that is the reality too.

Lol, how about in the next 2-6 months. Nowhere near 1 year. In 2013 for sure.

 

[Storm Force]

IF THIS REALLY HAPPENS SOON and Abingdonboy you seem very confident I WILL EAT HUMBLE PIE

and will be HAPPY TO DO IT TOO

 

[Jayanta]

But more than Rs100,000 crores have been budgeted for the stupid 'Food Security Bill'? This mind boggling amount is nothing but a way of making more moolah by corruption for the Congress in the guise of providing food for the poor and a few brownie points during next year's elections. Defence be damned!

One way of funding the election campaign the ruling party.

 

[Abingdonboy]

But more than Rs100,000 crores have been budgeted for the stupid 'Food Security Bill'? This mind boggling amount is nothing but a way of making more moolah by corruption for the Congress in the guise of providing food for the poor and a few brownie points during next year's elections. Defence be damned!

To be fair, let's not be so cynical. This bill is aimed to feed the poorest Indians who are more than deserving of such a policy, who gives a flying f**k which party brings it in? Politics really should be kept out of these matters, in fact the opposition supports this bill AFAIK.


Saying defence should receive the majority of spending is nonsense, India is a democracy and it spends too much on defence and space research as it is as far as some people are concerned. India spends plenty already on defence and as it grows economically so will its outlay on defence but feeding and taking care of its people should be its number 1 priority always.

 

[Koovie]

But more than Rs100,000 crores have been budgeted for the stupid 'Food Security Bill'? This mind boggling amount is nothing but a way of making more moolah by corruption for the Congress in the guise of providing food for the poor and a few brownie points during next year's elections. Defence be damned!

Whats the problem with a food security bill ????

 

[selvan33]

Whats the problem with a food security bill ????

you can get a complete detail here dude.
10 reasons why Amartya Sen is wrong about food security bill
http://www.firstpost.com/economy/10...is-wrong-about-food-security-bill-760033.html

 

[Pulsar]

you can get a complete detail here dude.
10 reasons why Amartya Sen is wrong about food security bill
10 reasons why Amartya Sen is wrong about food security bill - Firstpost

Excellent points I hope koovie has read! In a nutshell, the Food security Bill is going to be a disaster of epic proportions. Our taxes will be raised eventually to foot the bill amounting to more than Rs 200,000 crores annually! And what happens in a drought situation? We would have to import food grains for thousands upon thousands of crores depleting our coffers of the much needed foreign exchange!! Show me the money! This scheme sucks! Period!

This is nothing but a vote grabbing scheme keeping an eye on the 2014 general elections. The country's economy be damned!