Budget 2012: Where is the fire power?

India has not paid sufficient attention to its defence and security needs. Faced with deteriorating finances, acute fiscal distress, huge shortfall in tax collection and disinvestment, as well as miscalculation of subsidies, the government had decided on an unusual step: cutting the defence budget for this fiscal. The Centre proposed a cut of ‘a few thousand crores’ in the defence budget of 2011-12.

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