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Wednesday, July 09, 2014

Centre set to approve Rs 19,000 crore for INS Vikrant

INS VikrantAfter Prime Minister Narendra Modi himself witnessed the raw combat power exuded by an aircraft carrier sailing on the high seas last month, his government is now all set to approve the much-delayed infusion of funds to finish the ongoing construction of INS Vikrant at Cochin Shipyard.

Defence ministry sources say the Cabinet Committee on Security (CCS) is slated to meet this week, probably on Wednesday itself, to approve the allocation of around Rs 19,000 crore for the Phase-II and III building of the 40,000-tonne indigenous aircraft carrier (IAC).

Current estimates are that it will take around Rs 20,000 crore to construct the IAC, which is christened INS Vikrant after India's first carrier that was acquired from the UK in 1961 and later decommissioned in 1997.

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