New Delhi: India has said that it will not sign a USD 20 billion deal to purchase 126 Rafael fighter jets from Frances Dassault Aviation due to scarcity of defense funds, Indian media reported on Friday.
The media quoted Indias defense minister A.K. Antony as saying that India was not having the required defense budget to buy the multi role aircrafts.
"Ninety-two percent of our budget has already been used, with only 8 percent left," Antony said as quoted by the media. "Almost all the budget has been spent. Many other projects are also in the pipeline," he said.
The defence minister has said the remaining eight percent funds allocated to its ministry would be utilized for modernization of defense forces, reports added.
07/02/14 Kuwait News Agency
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The media quoted Indias defense minister A.K. Antony as saying that India was not having the required defense budget to buy the multi role aircrafts.
"Ninety-two percent of our budget has already been used, with only 8 percent left," Antony said as quoted by the media. "Almost all the budget has been spent. Many other projects are also in the pipeline," he said.
The defence minister has said the remaining eight percent funds allocated to its ministry would be utilized for modernization of defense forces, reports added.
07/02/14 Kuwait News Agency
