Modi isn't going to substantially increase defence spending, the budget will grow as the economy grows so that, rightly, is his priority. Today the reason the IA is seriously lagging in modernisation is because its mammoth manpower is a severe drain on its budgetary allocation (something like 60-70% of its budget is spent on operational expenditure) and thus why you see the IN and IAF doing much better in modernisation terms because they are far, far smaller forces and can thus spend more on capital expenditure.
As for MKU, yes they make some very nice equipment but it is still too expensive for every single soldier right now, they need to work on their pricing and the IA needs to wait until it has a better budget.
So the IA is being bribed by the OFB? Don't spread lies man. It has been the norm for the Indian military to purely engage with DPSUs due to structural reasons, things should change under the new GoI that is very keen to let the private sector into the defence market.