Defence deal
The Defence deal with Russia to purchase Admiral Gorshkov and fighter aircraft, which is estimated to cost about Rs
7,000 crore, is irrational and unwarranted. Given the poor economic development, growing rate of unemployment and
poverty, the country cannot afford to spend such a huge amount on defence.
Instead, the Centre should concentrate on human development and infrastructure. Investment in human development has
assumed significance with India falling from the 124th position in the Human Development Index last year to the 127th
position this year.
It is also essential to reduce the widening fiscal and revenue deficit. It seems that the Centre has forgotten its
statutory liability to reduce the fiscal and revenue deficits under the self-imposed Fiscal Responsibility and Budget
Management Act, 2003.
-- C. Ramesh, Keeramangalam (TN)
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RUSSIA IN FACTS
