The transformation from the comforts of outlay budgeting to an environment of accountability with outcome budgeting is difficult but not impossible. This re-engineering is essential as in the absence of outcome budgeting, budget management may be ineffective and ineffective budget management would weaken the Public Financial Management (PFM) system. A weakened PFM could even threaten established economic, social and political equilibriums.

This paper broadly deals with two important aspects. First, it analyses various security challenges that India is facing at present; and second, it examines the need for restructuring the Indian Armed Forces to address these security challenges. It explains that India is in a two front situation with China to the

The philosophy of approach toward military technology is based on purpose, vision, relevance, efficiency and performance. Being Indian in content is what needs to be added to the above! Sixty four years down the line, four battle engagements later, our defence technology story is one of unexpected miracles and unacceptable failures. It is in above context that a holistic understanding of the foundation on which the edifice of the defence industrial base of India needs to be progressively pillared becomes imperative?