126 planes in addition to the Su-30 Mki's on order and the F-18/Eurofighter/Rafael/Mirage/whatever ? Are you sure they are in addition to the above orders? eP007
The idea is to reduce and rationalize the squadrons. Besides, 28 squadrons of modern fighters like the Su-30MKI or equivalent will pack the same punch as 34 consisting of ageing jets like the Mig-21 & 23s.
Of course, with the licenced production of these fighters in India, things will improve a bit.