"The Indian Army is equipped to cater for the threat environment that exists and is always ready to meet the role assigned to it," Jaitley said in a written reply to a question in the Rajya Sabha.
He said mordernisation of armed forces was a "continuous process", but refused to disclose details of acquisition plans, saying it will not be in national interest.
"Further augmentation of capabilities of the armed forces, including its modernisation, is a dynamic and continuous process. Accordingly, modernisation of the Indian Army is carried out through Annual Acquisition Plans, Army Five years Capital Acquisition Plans and Long Term Integrated Perspective Plan," he said.
The details of defence deals are related to operational preparedness of the armed forces, and disclosure of details of the deals would not be in the national interest, he said.
Jaitley said an amount of Rs.75,148.03 crore has been sanctioned for the Director General Ordnance Factories (DGOF) for mordernisation of the armed forces.