Finance Minister Nirmala Sitharaman announced raise in FDI from 49 percent to 74 percent in Defence manufacturing, while unveiling fourth tranche of Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi.
Retired Army personnel welcomed the step taken by the government.
Major General (Retd) SB Asthana said that the policy reforms are welcomed and these reforms will go a long way as far as the self reliance and defence production is concerned.
LT General (Retd) Gurmit Singh also hailed the decision and said that it's a health sign for the defence sector.
