NEW DELHI, May 29 -- The Union finance ministry has approved a Rs.70,000-crore deal to construct next-generation conventional submarines in the country to sharpen the navy's underwater capabilities, paving the way for final clearance by the Prime Minister-headed Cabinet Committee on Security (CCS), senior officials aware of the matter said on Thursday. The CCS will soon consider the proposal for building six advanced submarines under Project-75I before the deal is signed, the officials said, asking not to be named. The contract will be signed under the new navy chief, Admiral Krishna Swaminathan, who will take charge on May 31. He will succeed Admiral Dinesh K Tripathi who retires after four decades of service. The navy's modernisation and ...