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IAF to buy 126 fighter jets
By siliconindia
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Thursday, 05 October 2006, 19:30 IST
Kolkata: India will soon float tenders to buy 126 multi-role aircraft to equip the armed forces, said Defence Minister Pranab Mukherjee Tuesday.
Indo-Asian News Service quoted Mukherjee at a meeting in Kolkata, as saying that the new aircrafts, which will replace the aging fleet of Russian-built MiG 21s will arm the air force with latest technologies.
The government has earmarked 
890 billion ($19.35 billion) for defense procurement this year, he said.
890 billion ($19.35 billion) for defense procurement this year, he said.