The C295s are not anywhere near finalization. TATA has had only a tie up with Airbus nothing more.
As for the budget part, compare both budgets ( Amount spent upon, new procurement ) and the results.
While we add only 15-16 Flankers each year, they are adding near 24 aircrafts per year.
While we have not yet decided which AIP to use, they already have 2 MESMAs running.
While we are not able to decide that weather to say yes or no to A330MRTT, they have added 4 Il78s. While we are yet doing " NEGOTIATIONS " for artillery, they have added near 300 M109s, 72 Turkish 155mm, near 100 Chinese MRLS, and what not.
Leave it for some other thread some other day or will end up derailing the thread.