Parliamentary panel criticises delays, cost overruns in navy projects

The price of indigenous aircraft carrier has shot up a whopping six times and will now cost Rs 19,341 crore, a parliamentary panel has said, criticising the "regular delays" and cost overruns in almost all acquisition activities of the navy.

The Standing Committee on Defence also said it is "high time" that adequate budgetary provisions are made to the force so that deficiencies are mitigated and the country is capable of taking on two-front challenges.

The panel that it is "perturbed" to find a spurt in accidents involving navy vessels in the recent past. In 2012, the government's Defence Acquisition Committee had approved 198 ships and submarines for the navy but the present force level is 127 ships and 15 submarines.

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