With Budget Crunch, Navy Needs To Adopt An Innovative Approach For Financing Shipbuilding Programs

While the Navy was the first service which took up the indigenisation program long before, the share of the Navy as a percentage of total defence budget shows a decline in the Navy share from 18.12 % to 14.55%. So, the resources from budgetary sources will not be able to keep pace with the requirements of the Defence forces. GoI must look into the navy budget. Navy also needs to adopt an innovative approach for financing its shipbuilding programs.