Raksha Mantri Shri Rajnath Singh today emphasised on the importance of financial prudence in an emerging economy like India, saying that any mismanagement like “in our neighborhood” can lead to fiscal chaos. In his address at the annual day celebrations of Defence Accounts Department (DAD), Ministry of Defence, Raksha Mantri said, “Our neighbor is a living example of financial mismanagement”. He said, excessive militarisation and focus on wrong policies in the neighborhood has led to a situation where a country could be blacklisted by international agency, Financial Action Task Force (FATF) for terror financing and its Prime Minister is struggling to arrange even for a plane to attend a global event.
Shri Rajnath Singh said, national security has today become a multi-dimensional concept, with economic strength, energy, food security and environmental protection among others being its key dimensions. Asserting that the Government is sensitive towards adapting to the changing environment, Shri Rajnath Singh assured that all barriers that come in the way of development will be removed.