Union Minister Singh highlights Defence investment's catalystic impact on India's economy
Speaking at the Controllers' Conference 2025 of the Defence Accounts Department (DAD), the Minister said, 'We need to be responsible in utilising the Budget as it comes from the hard-earned money of the public. The Budget should be used optimally – for the right purpose, at the right time.'
He also highlighted the fact that the country's Defence Budget is bigger than the GDP of some countries.
Defence Minister Singh pointed out that gone were the days when expenditure in the Defence sector was only considered necessary and never viewed as an economic catalyst. 'Now, it is being seen as a spending which has a multiplier impact on the economy,' he said.
'Earlier, there was no assessment of the economic impact of expenditure on security but things have changed now when investment in re-armament is rising exponentially. We need to pay special attention to Defence economics,' said Defence Minister Singh.
He also praised the measures taken by the Defence Acquisition Council for starting procurement from the Government e-Marketplace (GeM).
He also called for measures to serve veterans better and appreciated steps like introduction of centralised database management.
The conference inaugurated by the Defence Minister will foster discussions on policy dialogue, strategic review and institutional innovation and serve as a platform for shaping the future of India's Defence financial architecture.
The conference, that will be held till July 9, aims to bring together top leadership from DAD, civil services, academia, think-tanks, and stakeholders across the Defence and finance sectors.
'It serves as a vital platform for evaluating challenges, initiating reform, and advancing the role of financial governance in Defence preparedness,' said the Defence Ministry in a statement.
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