New Delhi, October 1

India needs stronger armed forces with modern equipment to become a developed nation by 2047, Defence Minister Rajnath Singh said on Sunday while underlining the need for effective utilisation of financial resources by the three services.

Singh made the remarks after launching several digital initiatives of the Defence Accounts Department (DAD) during its 276th annual day celebrations at Delhi Cantonment.

Describing the DAD as the “guardian of defence finance”, he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately. This, he said, will not only help in dealing with the problem quickly but also increase the trust of the people in the department. “If we wish to

create a developed nation, we will need stronger armed forces with modern arms and equipment. Therefore, it is necessary to effectively utilise the financial resources available to us,” Singh said.

“There should be a fine balance between the demands of services and the allocation of available resources,” he said.

Singh also suggested to the DAD for the creation of an in-house standing committee that can research and study market forces and provide high-quality market intelligence to field officers. During his address, Singh appreciated the organisation for its efforts towards enhancing the country’s defence capabilities through a transparent and efficient financial system.

Terming accounting as extremely important for an individual, organisation and the nation as a whole, he said, “Our wants are unlimited, but the available resources are limited.” He commended the DAD for ensuring judicious use of resources while extracting optimum output.

The digital initiatives launched included an integrated defence finance dashboard for the Ministry of Defence — SARANSH (Summary of Accounts, Budget and Expenditure for Raksha Mantralaya) and BISWAS (Bill Information and Work Analysis System and e-Raksha Awaas). — PTI

Use resources effectively

If we wish to create a developed nation, we will need stronger armed forces with modern arms and equipment. It is necessary to effectively utilise the financial resources available to us. Rajnath Singh, Defence Minister