Rajnath Singh terms Integrated Finance as the backbone
Defence Minister Rajnath Singh has termed Integrated Finance as the backbone of any ministry, saying that desired objectives can only be achieved when a ministry is able to manage within its budgetary resources without compromising on operational needs.
Addressing the Integrated Financial Advisors Workshop in New Delhi today, the Defence Minister commended the Finance Division in the Ministry of Defence and Controller General of Defence Accounts for meeting the needs of the three Services and other allied organisations.
Mr Singh Singh highlighted that in the last three years, the Defence Ministry has been able to fully utilise its allocations, ending the trend of non-utilisation of funds due to substantial delegation of financial powers.
He said, financial powers have been delegated for capital and revenue procurement so that Armed Forces are able to make their own procurement of up to 300 to 500 crore rupees.