The Armed forces veterans here hailed the Finance Minister Arun Jaitley’s maiden Union Budget. They appreciated the proposal for One Rank One Pension Scheme (OROPS), increase in budgetary allocation for defence sector and decision to allow Foreign Direct Investment (FDI) in the defence sector.
The Finance Minister in his Budget speech proposed Rs 1,000 crore for the OROPS. Apprehensions, however, were raised over less budgetary allocation for OROPS; it is worth mentioning here that the UPA Government had earmarked Rs 500 crore in its Vote-on-Account for the One Rank One Pension Scheme.
The President Emeritus of Dehradun Ex Services league Brigadier (Rtd) K G Behl said that the allocation of Rs 1,000 crore is very less to cater the actual need of money for OROPS. He said that a committee should be constituted to remove all the hindrances in the implementation of the scheme. Behl welcomed the Government’s initiative to allow 49 per cent FDI in the defence sector and termed it a step in the right direction. He said that our country is largest importer of the weapon systems and FDI would help building a robust defence manufacturing industry in the country. Col (Rtd) MP Kala said that OROPS if implemented properly would help lakhs of Ex Servicemen of the country. He welcomed the decision to construct a War memorial at Princess Park, New Delhi, and said that it would be a fitting tribute to those soldiers who laid down their lives for the country. Col (Rtd) Pl Parashar welcomed the initiative of the Government for OROPS and said that lakhs of retired and serving Defence personnel are closely monitoring the issue. He said that the
dream of Prime Minister Narendra Modi to develop India into an arms exporting country could be fulfilled by allowing FDI in the defence sector. He said that “huge revenues could be saved if our country starts manufacturing arms indigenously”.