Defence Acquisition Council reviews proposals for current financial year

New Delhi, Aug 18 (IANS) The Defence Acquisition Council (DAC) chaired by Defence Minister Manohar Parrikar on Thursday reviewed the progress of capital acquisition proposals in the current financial year, sources said.

Since May 2016, 10 acquisition schemes worth approximately Rs 16,000 crore have been approved, including six at the Cabinet Committee for Security (CCS) level.

In addition, four major acquisitions worth Rs 15,000 crore have been cleared by the defence ministry and forwarded for consideration of CCS, sources said.

"With major acquisitions worth over Rs 31,000 crore being at either contracted or advanced stage, the DAC urged the Services and the defence ministry to expedite processes," the source said.

The DAC also found that as against 329 AoNs (acceptance of necessity) worth over Rs 5 lakh crore in pipeline in April 2014, today there are about 235 AONs in pipeline.

Acquisition of one C-130 Hercules aircraft as a replacement and procurement of night vision goggles for pilots were also approved.