Defence Minister Arun Jaitley has said that slow pace of acquisition of weapons for armed forces is a matter of concern.

Talking to reporters on the sidelines of Naval Commanders Meet in New Delhi this morning, Mr Jaitley said, the status and process of acquisition was highlighted in the meeting.

He said that all the expectations and needs of Armed forces should be fulfilled and the process be fastened. Mr Jaitley, who also holds portfolio of Finance Ministry said, full budgetary support will be given to meet the needs of the forces. Mr Jaitley said, India's armed forces are well prepared to safeguard the country.

On economy, Mr Jaitley said, Finance Ministry has been facing a challenging job due to the economic slowdown during the last two years. He said, the growth rate of less than five per cent has directly affected the revenue generation. Jaitley said there is a need to regain the trust of investors in the economy to propel growth engine.

On his maiden budget to be presented on 10th of next month, Mr Jaitley said, the process of consultation and discussions with the stakeholders has been completed during the last three to four weeks.