The Army's plan to modernise its arsenal with the latest weaponry has taken a beating as the Finance Ministry has cut the budget by almost about Rs 5,000 crore, leaving little money to make fresh purchase. br br Army Chief Gen Dalbir Singh on Tuesday said the Army identified seven critical projects, which would be pursued for equipping the soldiers with advanced firepower and mobility. While at least two of them were approved by the Defence Acquisition Council headed by Defence Minister Manohar Parrikar, others are under consideration.