Published on Hindu.com, by Special Correspondent, July 24, 2007.
Kakinada: India will purchase 126 multi-role combat aircraft at a cost of $7 billion, according to Union Minister of State for Defence M.M. Pallam Raju. Disclosing this to newsmen here on Sunday, he said that under the defence acquisition policy, fifty per cent of the product purchased should be Indian component.
Of the total Rs.96,000 crore defence budget, he said, 45 per cent should be utilised for modernisation including acquiring of new aircraft … (full text).