Following the Pulwama attack, the Narendra Modi-led government has given emergency powers to the Armed Forces to buy equipment to enable them to fight wars on the western border with Pakistan.
The financial powers have been increased for the three services and they can buy weapons systems worth Rs 300 crores under each proposal, sources in the government said.
Under this proposal, the Army is planning to buy 246 Spike anti-tank guided missiles which can be used against enemy tank regiments and destroy them.
Similarly, the Navy and the Air Force are also preparing proposals for buying missiles and other weapons systems which can prepare them fully for a war with Pakistan.
The services also can choose to buy equipment from a single vendor and without the concurrence of the integrated financial advisor. The weapon systems allowed to be acquired have to be acquired and fielded within three months of the proposal.
Raksha Mantri Nirmala Sitharaman is likely to speak to news agency ANI on the decision by the Centre later on Wednesday.
On Friday, top Army commanders carried out a thorough review of India's security challenges including along the borders with China and Pakistan, and resolved to enhance the operational capability of the force to effectively deal with potential adversaries, officials said.
A plethora of pressing issues including speeding up infrastructure development along the border with China and ways to ensure jointness among the Army, Navy and the Indian Air Force were discussed by the commanders at the conference which began on Monday, April 8 and will conclude on Saturday, April 13.
Sources said the commanders also deliberated on emerging security scenario along the border with Pakistan in the wake of Balakot air strike and subsequent Pakistani retaliation.
On April 8, in a major fire-power boost for the country, the indigenously developed 'Dhanush' howitzer artillery gun was inducted to the Indian Army at a ceremony held at the Ordnance factory in Jabalpur.