Defence modernization funds cut by Rs 10,000 crore; Army operations may be hit

The modernization budget of the armed forces has been slashed by around Rs 10,000 crore in a major jolt to them in the New Year. The cut is contrary to defence minister A K Antony's earlier promise of a hike in the defence budget to cater for the threat of the expansive China-Pakistan military nexus. The finance ministry conveyed the decision for the Rs 10,000 crore cut in the capital acquisitions for the Army, Navy and IAF to the defense ministry.

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