Out of cash: The hurdles in the way of military modernisation

The modernisation of the Indian military will not come cheap. And now, it appears it won't come on time, either. When Defence Minister A K Antony announced that the $16-billion deal (about Rs 1 lakh crore) to buy 126 Rafale medium multi-role combat aircraft, or MMRCA, from the French company Dassault could not be finalised this financial year, the reason he gave was financial constraints.

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