Latest news with #ControllersConference
Time of India
16 hours ago
- Business
- Time of India
Peacetime is nothing but ‘illusion', must remain prepared for uncertainty: Rajnath Singh
Defence minister Rajnath Singh at the Controllers Conference of the Defence Accounts Department in New Delhi on Monday NEW DELHI: Hailing the armed forces for the valour they displayed during Operation Sindoor post the Pahalgam terror attack , defence minister Rajnath Singh said on Monday that 'peace time is an illusion and India must remain prepared for any uncertainty'. The defence minister praised the armed forces for Operation Sindoor but said the larger geopolitical situation leaves no scope for complacency in the effort to enhance preparedness. 'A single delay or error in financial processes can directly affect operational preparedness,' said the minister while addressing the Controllers Conference of the Defence Accounts Department (DAD). Talking about rising demand for desi weapons of late, Rajnath said, 'The world is looking at our defence sector with new respect. Operation Sindoor has boosted global demand for our indigenous armaments. Most of the equipment we once imported is now being made in India. Our reforms are succeeding because of the clarity of vision and commitment at the highest level. Sudden developments can force a complete shift in our financial and operational posture. ' The minister spoke in the presence of Chief of Defence Staff General Anil Chauhan, Army chief General Upendra Dwivedi, Navy chief Admiral Dinesh K. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Tripathi, IAF chief Air Chief Marshal Amar Preet Singh and defence secretary Rajesh Kumar Singh at the conference. The govt has over the past few years allowed the armed forces to procure arms and ammunition through the 'emergency' route. Post-Operation Sindoor, it cleared a range of acquisitions for the armed forces. The armed forces have consistently complained, often publicly, about acquisitions being delayed because of the rigid approach of the bureaucracy and auditors. Rajnath called on DAD to evolve from a 'controller' to a 'facilitator' in sync with increasing participation of the private sector in defence. He praised DAD's new motto 'Alert, Agile, Adaptive' and noted that these are not mere words, but a reflection of the work culture required in today's rapidly evolving defence environment. 'Whether it's stepping up equipment production or adapting financial processes, we must be ready with innovative techniques and responsive systems at all times,' the minister said. Citing the Stockholm International Peace Research Institute report, which said global military expenditure reached $2.7 trillion in 2024, Rajnath said, 'This opens up tremendous opportunities for India's indigenous defence industries.' The minister also said 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,' he said. Singh said India, along with the rest of the world, is entering a new phase of re-armament, marked by capital-intensive investments in the defence sector. He called upon DAD to incorporate defence economics in their planning and assessments, including social impact analysis of R&D projects and dual-use technologies. Highlighting the increasing strategic and economic significance of the defence sector, Rajnath called for a shift in perception from defence spending as mere expenditure to an economic investment with multiplier impact. 'Until recently, defence budgets were not seen as part of the national economy. Today, they are growth drivers,' he said.
India Gazette
a day ago
- Business
- India Gazette
"Op Sindoor led to increase in demand for our Indigenous defence products": Rajnath Singh
New Delhi [India], July 7 (ANI): The demands for Indian defence equipment have increased following Operation Sindoor, said Union Defence Minister Rajnath Singh on Monday, noting that the world military expenditure has increased to over USD 2.7 trillion in 2024, and a big market is awaiting India. Speaking at the Controllers Conference organised by DRDO, the Union Defence Minister said, 'The world is looking towards our Defence sector. The valour that our soldiers have shown during Operation Sindoor, as well as the way we showcased the capabilities of our domestic equipment, has led to an increase in demand for our indigenous defence products. World military expenditure has increased to over $2.7 trillion in 2024 - such a big market is awaiting us.' Singh further mentioned that India's Defence budget is bigger than the GDP of various countries in the world, highlighting the need to utilise the resources in the right way. '...If you look at our Defence budget, it's bigger than the GDP of some countries in the world. When a significant portion of people's hard-earned income is allocated to the Defence Ministry, our responsibility increases exponentially--we ned effective growth. Our Defence expenditure should be such that not only does the budget increase, but also we should utilise it in the right way - by proper deployment at the right time for the right objective, ' said Union Minister Singh. The Union Minister lauded the decision of the Defence Acquisition Council to grant permission for capital procurement from the GeM portal. He said, 'Defence Acquisition Council for the first time has permitted the capital procurement from the GeM portal, it's a commendable step... I have also been informed that the department is working on the Comprehensive Pay System and centralised database management for defence personnel...' The Union Minister further said, '...You have organised a controllers conference, but I think your mind should be open and receptive, so that you can discuss and share about the changes occurring in the defence ecosystem with all stakeholders. Such events give us a chance to do introspection and self-analysis. We can think about the reforms that are needed to bring... This department's responsibility is not just to manage accounts on paper, but also an important part of our security system. When you honestly, its impact even reaches the soldiers guarding our borders. They feel that they have a system behind them that will be with them in all circumstances...' The Defence Accounts Department (DAD) is hosting the Controllers' Conference 2025 from July 7-9 at the Dr SK Kothari Auditorium, DRDO Bhawan, New Delhi. The conference was inaugurated today by Defence Minister Rajnath Singh in the presence of top military and civilian leadership including Chief of Defence Staff General Anil Chauhan, the three service chiefs, Defence Secretary Rajesh Kumar Singh, Financial Adviser (Defence Services) SG Dastidar, and Controller General of Defence Accounts Mayank Sharma, marking it as a key platform for shaping the future of India's defence financial architecture. A flagship forum for policy dialogue, strategic review, and institutional innovation, the Controllers' Conference brings 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. The theme of this year's conference, 'Transforming Financial Advice, Payment, Audit and Accounting through Defence Finance and Economics,' reflects a paradigm shift within the department, repositioning DAD from a finance & accounts body to a future-ready institution focused on Defence Finance and Economics. This transformation, guided by the strategic vision articulated by the Defence Minister on October 1, 2024, is internally driven, inclusive, and aligned with emerging national security imperatives. The transition is anchored in DAD's new Mission Statement and Motto 'Alert, Agile, Adaptive' which will be formally released during the event. The conference features eight high-level business sessions (Manan Satras), covering areas such as budget and accounts reform, internal audit restructuring, collaborative research, pricing innovation, and capacity building. These sessions will explore the evolving role of Integrated Financial Advisors (IFAs) in balancing fiscal prudence with strategic support for a competitive and self-reliant defence industry. Managing a defence budget of Rs 6.8 lakh crore, including Rs 1.7 lakh crore dedicated to pensions, DAD plays a pivotal role in payroll, pension disbursement, audit, procurement pricing, and strategic financial advice. Over the past year, the department has made significant strides in digital transformation, with flagship reforms like: - SAMPURNA: An AI-driven, end-to-end automation system for defence procurement and payments, enhancing transparency and agility SPARSH: Now serving over 32 lakh pensioners, this digital platform has redefined pension delivery with transparency and accessibility SPARSH VAN: A mobile outreach innovation launched in Tamil Nadu, delivering pension services directly to veterans' doorsteps e-Raksha Awaas: Automated recovery of over Rs 500 crore in rent, generating Rs 2,700+ crore in rent bills Defence Travel System (DTS) and AI-based procurement tools: Building a smarter, data-centric financial network for defence. (ANI)
