CAG slams defence PSUs for miserably failing self-reliance goals
Advertisement
Advertisement
The Comptroller and Auditor General of India has slammed defence public sector units (PSUs) for performing poorly because of which the objective of self-reliance could not be met. The reason, The report from CAG repeats what the private sector feels about getting more orders from the government, since a majority of contracts in the last two years have gone to PSUs. As per the report, 63% of the contracts given to PSUs from 2007 to 2012 were delayed for various reasons.
"Besides impacting defence preparedness, the delay had financial implications towards loss of interest on payments made to
Also read: Defence minister is considering purchases worth Rs 1 lakh crore
The private sector in defence manufacturing has already complained to the Prime Minister's Office (PMO) that the defence ministry is favouring PSUs despite their delays, because of which they don’t received orders as per their capabilities.
Advertisement
The CAG report was prepared after a thorough study of at least nine major army projects and assessing all contracts placed on PSUs. As per the report, the "inordinate delay in supply of critical weapons and equipment" had "hampered the modernisation and capability enhancement plan of Indian Army".
The delays also led to the government facing a loss of Rs 1,931 crore because of accrued interest on advances that were paid to these DPSUs.
Also read: CAG thrashes ONGC over Rs 8k Crores loss
Image source
Advertisement
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market