HAL moots defence financing corporation for acquisition of weapon systems
NEW DELHI: Hindustan Aeronautics Ltd (HAL) has proposed a defence financing corporation for acquisition of weapon systems such as aircraft and warships to bring in much-needed resources for the armed forces struggling with dipping capital budgets.
Proposed to be set up in line with the Indian Railways Finance Corporation, the new body could raise funds from the capital market and provide more stability to defence purchases that are often delayed due to the unavailability of capital.
