New Delhi, Oct. 1 -- Defence Minister Rajnath Singh, on Wednesday, while speaking at the Defence Accounts Department's 278th Foundation Day, emphasised the importance of using economic analysis to strengthen India's defence budget, while stating his vision of making the Defence Accounts Department a centre of excellence in defence, finance, and economics.

Singh said, "At my suggestion, the Controller General of Defence Accounts (CGDA) released two market intelligence reports. These reports assess the economic impact of the defence budget based on GEM (India's Government e-Marketplace) procurement. This is a good start. I believe that after full implementation, this economic analysis will be even more comprehensive and conducted in real-t...