India's Finance Minister Pranab Mukherjee on Feb 28 raised allocations for MoD by 11 per cent for the year 2011-12 to Rs 1,64,415 crore (approx $36 billion). The capex has been increased to Rs 69,199 crore. He promised additional funds would be made available to MoD, if need be. Antony & Co couldn't have asked for more as the much-needed modernization plans of Indian Army, Navy and Air Force armed forces are at various levels of implementation.
