New Delhi: Government today promised that it will overhaul the defence procurement system to increase efficiency and encourage domestic military industrial base against the backdrop of long delays in acquisitions and scams such as the VVIP chopper deal.
Addressing the first joint sitting of Parliament after the recent Lok Sabha elections, President Pranab Mukherjee said the government will introduce new policies including liberalised FDI in defence to strengthen and develop a strong indigenous defence industrial base.
The government also promised to implement the long-pending demand of ‘One Rank One Pension' and also assured that it will set up a ‘Veteran's Commission' to look into the issues faced by ex-servicemen and build a National War Memorial for the martyred soldiers.
“Recognising the importance of coastal security, my government will set up a National Maritime Authority. “My Government will carry out reforms in defence procurement to increase efficiency and economy.
It will encourage domestic industry, including the private sector; to have a larger share in design and production of defence equipment,” Mukherjee said.