Govt grants emergency financial powers to three services
New Delhi: The government has granted the three services emergency financial powers of up to Rs 500 crore per procurement project to buy ammunition and weapons in view of the escalating border standoff with China, government sources said Sunday.
The special financial powers have been given to the forces to procure weapons and military hardware at short notice to enhance their operational preparedness along the Line of Actual Control (LAC), they said.
The government has also relaxed certain rules to cut delays in military purchase like allowing the three services to procure required weapons and equipment from a single vendor, the sources said.
Military sources said the Army is going to use the emergency financial powers to expand its stock of ammunition as there is little possibility of any resolution of the standoff soon.
“The three services have been given emergency financial powers of up to Rs 500 crore per procurement project,” said a source.