Defence Minister Approves Rs 499 Crore Budget For Innovations in Defence Sector

Defence Minister Rajnath Singh has authorized a budget of roughly Rs 499 crore for research and innovation in the defense sector for the next five years. The financial support will be provided to roughly 300 start-ups, micro, small, and medium companies (MSMEs), and individual innovators with the greater objective of guaranteeing defense sector's self-sufficiency. The enormous budget lines up with the government's aim to cut imports on defence hardware.