Consider the following statements regarding the Defence Acquisition and Procurement System in India:
1. The Defence Acquisition Council (DAC), established following the recommendations of the Group of Ministers on Reforming the National Security System in 2001, paved the way for a dedicated defence procurement structure.
2. The DAC gives ‘in principle’ approval to capital acquisitions under the Long Term Perspective Plan covering a 15-year time span.
3. The Defence Secretary chairs the Defence Procurement Board (DPB), which oversees coordination and monitoring of the acquisition process.
How many of the above statements are correct?
1
Only one
2
Only two
3
All three
4
None