Defence Minister Rajnath Singh
Rajnath Singh, the defence minister, stated on Sunday that the three services must effectively utilise financial resources if and need strong armed force with better equipments if India wants to become a developed country by 2047. Singh made the comments after the Defence Accounts Department (DAD) unveiled a number of digital initiatives during its 276th annual day celebrations at Delhi Cantonment.
“If we wish to create a developed nation, we will need stronger armed forces with modern arms and equipment. Therefore, it is necessary to effectively utilise the financial resources available to us,” Singh said.
“There should be a fine balance between the demands of services and the allocation of available resources,” he said.
He emphasised the need to strengthen the internal vigilance mechanism, referring to the DAD as the “guardian of defence finance,” so that any suspicious activity can be discovered and reviewed right away.
Singh urged DAD officials to keep in mind two broad aspects while extending financial advice – realistic assessment of the demand of the user agency and understanding of the product’s market.
The digital initiatives launched included an integrated defence finance dashboard for the Ministry of Defence – SARANSH (Summary of Accounts, Budget and Expenditure for Raksha Mantralaya) and BISWAS (Bill Information and Work Analysis System and e-Raksha Awaas).
With Agency Inputs
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