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Budget 2022: Govt promises to lower imports in defence sector, says Nirmala Sitharaman
Sitharaman also stated that 5% of the Universal Service Obligation (USO) Fund would be allocated to research and development and technology upgrades.
Highlights
- Sitharaman stated that the local industry would receive 68 percent of the capital allocated to the defence sector.
- Furthermore, she stated that climate change threats are the world's most serious externalities
New Delhi:Finance Minister Nirmala Sitharaman said on Tuesday that the government is committed to reducing imports and promoting self-reliance in the defence sector. She stated that the local industry would receive 68 percent of the capital allocated to the defence sector.
Sitharaman also stated that 5% of the Universal Service Obligation (USO) Fund would be allocated to research and development and technology upgrades. "Contracts for laying optical fibre net to all villages under BharatNet will be provided on a PPP basis," she added.
Furthermore, she stated that climate change threats are the world's most serious externalities, and that a low-carbon development approach would create new job opportunities.
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