The defence ministry (MoD) will spend an unprecedented Rs 15,000 crore on the Ordnance Factory Board (OFB), its fully owned conglomerate of 41 factories that manufactures arms, ammunition, vehicles and equipment mainly for the military.

The amount will be spent during the 12th Plan (2012-13 to 2016-17) on upgrading, modernising and supplementing the OFB's production facilities.

During the last decade, OFB spent an average of about Rs 400 crore per year on modernisation. Now, during the 12th Plan, OFB modernisation will consume more than Rs 3,000 crore annually. Read More

Jyothi Shankaran

    Jyothi’s last role was as Senior Editor with the business news channel Bloomberg TV India. He also worked as News Editor at business-standard.com, the online version of the business newspaper Business Standard. Jyothi is a chemical engineer from the Regional Engineering College, Srinagar.