Big boost: Financial powers of Army vice chiefs enhanced 5 times
New Delhi, Nov 9: The Defence Ministry has increased the financial powers of the Vice Chiefs of the three services for buying essential items that range from ammunition to fuel.
"With the new delegation, the Vice Chiefs will be able to exercise financial powers up to five times more than the existing powers with an enhanced ceiling of Rs 500 crores. This is likely to give another fillip to the capacity of the three Armed Forces," the defence ministry said in a statement.
The revenue procurement of the armed forces are meant to buy day-to-day items required to run the Army, Air Force and Navy.
The delegation of greater financial power to the Vice Chief would expedite the procurement of such items and enhance the operational preparedness of the three services, the ministry also said.
Aimed at augmenting availability of arms & ammunition with Armed Forces & to enhance their OP preparedness, MoD enhances Financial Powers of Vice Chiefs of Tri-Services by upto 5 times to Rs. 500 crore," the ministry also said.