The Government has increased the Defence Minister's financial powers five folds. <br/><br/>This has been done for quicker procurement of equipment and modernisation of the armed forces. <br/><br/>A decision to this effect has been taken by the Finance Ministry enabling the Defence Minister A K Antony to approve defence purchases upto 500 crore rupees without taking approval of the Cabinet Committee on Security, CCS. Earlier, it was only 100 crore rupees. <br/><br/>The Defence Ministry has also been authorised to decide on defence procurement up to 1,000 crore rupees with concurrence from the Finance Ministry. With this decision, defence equipment that are valued over 1,000 crore rupees alone would be taken to the CCS for approval.