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CDS says Need to embrace changes in financial processes due to rapidly changing character of war

 

By TIOL News Service

NEW DELHI, AUG 06, 2024: CHIEF of Defence Staff General Anil Chauhan has stressed the need to embrace changes in financial processes due to the rapidly changing nature and character of war driven by geopolitical dynamics and technological advancements. He was delivering a keynote address at the apex level conference on Aug 5, 2024, in New Delhi on enhancing cohesion and synergy in financial matters pertaining to Armed Forces. CDS said such changes have brought about a non-linear and non-predictable evolution.

Gen Anil Chauhan exhorted all stakeholders to act in cohesion and synergy to safeguard India's strategic interests while working jointly towards ensuring National Security, which is an important pillar of Viksit Bharat.

Vice Chiefs of Service HQs attended the conference, along with senior functionaries from Service HQs, Coast Guard HQ, MoD Acquisition, MoD Finance, CGDA, and all Principal Integrated Financial Advisors. The conference was steered by HQ IDS and focused on improving the efficiency in defence procurements while adhering to all financial canons.

In his opening address, Deputy Chief of Integrated Defence Staff (PP&FD) Vice Admiral Sanjay Vatsayan set the pace for discussions by bringing out the intricacies of defence procurements. Financial Adviser (Defence Services) Sugata Ghosh Dastidar stressed on reducing foreign dependence and moving towards Aatmanirbharta while ensuring greater collaboration with Academia towards research and development in defence.

The conference saw all stakeholders putting forth their perspectives and deliberating ways to enhance cohesion and synergy. Service HQs gave insights into their respective challenges in public procurement and methodologies to overcome the same were discussed. The PIFAs participated actively on critical issues of Capital & Revenue procurements. Positive suggestions and recommendations were elucidated by MoD Finance.

Some of the key deliverables of the conference included the importance of Outcome Oriented Budget, Expeditious Procurements, and Financial Propriety. These key takeaways would be forwarded to the MoD for ratification.


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