55 Squadrons(Combat?) for the IAF

[updated:LAST EDITED ON 30-10-02 AT 11:20 AM (GMT)]Well the Indian Air Force plans to increase the no of existing squadrons to 55.This has been mentioned and discussed in passing in other posts . But would really like a discussion on whether this is fesible in the the current scenerio. There are a large no of Migs being retired in the near future.These have to be replaced even if not on a one-to-one bases. Will the IAF be able to affored these replacements let alone the increase in the no of squadrons?
If yes what kind and type of aircraft will they be looking for. How many of them will be combat and how many transports.What would the cost involved be?
Does the IAF really need 55 Sqns keeping in mind the threat from both Pakistan and China now and in the future.