Addressing the annual day celebrations of the Defence Accounts Department (DAD) on Tuesday, Defence Minister Rajnath Singh announced significant progress in linking defence pensioners to the SPARSH portal, with 30 out of 32 lakh pensioners successfully integrated into the System for Pension Administration (RAKSHA).
This initiative aims to streamline the processing of pension claims, allowing for direct credit to pensioners’ bank accounts without intermediary involvement.
Singh commended the DAD for overcoming numerous challenges in implementing this web-based system, emphasizing its role in modernizing and strengthening India’s defence ecosystem.
He noted the department’s commitment to resource optimization, efficiency, transparency in accounting, and the adoption of cutting-edge technologies.
Defence Minister Highlights Shift From Imports To Growing Domestic Defence Industry
Reflecting on the advancements in the defence sector over recent years, the Defence Minister pointed out a transformative shift from reliance on imports to a burgeoning domestic defence industry.
He stated that the efforts of Prime Minister Narendra Modi’s government to attain self-reliance have positioned India as a defense exporter today.
Singh highlighted impressive statistics, revealing that India’s defence production reached Rs 1.27 lakh crore in FY 2023-24, with exports skyrocketing from Rs 1,000 crore to Rs 21,000 crore across more than 90 countries.
This growth significantly bolsters the ‘Make in India’ program and is likely to sustain an 18% compound annual growth rate (CAGR) in defence exports from FY 2024 to FY 2030.
In the past decade, Indian companies have secured approximately Rs 6 lakh crore in defence equipment contracts, effectively doubling the nation’s defence production capabilities.
The Defence Minister also urged the DAD to develop a strategic roadmap aimed at establishing the department as a ‘Centre of Excellence’ in defence finance and economics.
He stressed the need to explore innovative approaches to defence accounting and financial management, particularly given the scale of operations involving over 50 lakh personnel associated with the Ministry, which manages a budget surpassing the GDP of several small countries.
“There are over 50 lakh personnel associated with the Ministry, and the budget is larger than the GDP of many small countries. DAD is a link which connects all the units of the Armed Forces and civilian organizations,” Singh concluded, underscoring the department’s pivotal function in the country’s security framework.
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