New Delhi, May 22 -- Expressing concern over reduced budget for capital procurement over the years, Defence Secretary Ajay Kumar said here on Thursday the allocation has come down from 40% in 2010-11 to 33% and efforts are on to reduce the burgeoning pension bill. He also said the Indian Ocean is becoming a "threat" after the South China Sea, in an apparent reference to growing Chinese maritime prowess and its fast expanding naval presence in the Indian Ocean in the last one decade or so.
Addressing a webinar here, Kumar said the reduction in allocation for capital procurement was "systemic problem" with three factors - growing pension bill, non revenue expenditure and dependence on imports.
On Blue economy in the region, Kumar stated Chi...