Wednesday 24 April 2019, 05:43 AM
Indian defence budget US $ 40 billion
By IANS | Bharat Defence Kavach | Publish Date: 2/28/2015 12:00:00 AM

New Delhi: A sum of Rs 2, 46, 727 crore, or US $ 40.07 billion, has been set aside for the Indian Defence Ministry during the next fiscal commencing April 1, 2015.

Finance Minister Arun Jaitley, while presenting the budget,  today indicated that the nation was wanting to making new aircraft.

The allocation for Defence is a jump of Rs 16,727 crore over the budget of Rs 2,29,000 crore for the ongoing fiscal – endingMarch 31 -- and is a hike of 7.9 per cent hike.  In January this year the budget for the ongoing fiscal had been cut in revised estimates by some Rs 13,000 crore, off which Rs 12,622 was shaved off from the Capital expenses. 

Effectively, the Government today made up for reduction over the original budget of this year and also added another Rs 16,747 making it a hike of nearly Rs 24,357 crore – some US $ 4 Billion.

Around 11 percent of the entire country’s budget will be spent on defence and it constitutes 1.75 percent of the Gross Domestic Product (GDP). 

China’s Military budget is scheduled to be announced at the start of the annual meeting of China's parliament on March 5. Last year, Chinese spending rose 12.2 percent to tapper off at US $ 130 billion, second only to the United States.

Jaitley was categorical on ‘ Make in India’, saying “ We are pursuing the Make in India policy to achieve greater self-sufficiency in the area of defence equipment, including aircraft”. So far, he said, we have been over dependent on imports, with its attendant unwelcome spin-offs.

The Government, he said, has been both transparent and quick in making  defence equipment related purchase decisions, thus keeping our defence forces ready for any eventuality. 

He cited how the Government had already permitted FDI in defence so that the Indian-controlled entities also become manufacturers of defence equipments, not only for us, but for export. 

Out of the total allocation a sum of Rs 94,588 has been earmarked for Capital that is the purchase of new equipment weapons and platforms. A major chunk, Rs 24, 697 crore has been earmarked for ‘aircraft and aero engines’, indicating that helicopters and fighter jets will be added. Another major chunk, Rs 16,049 crore  will go to Naval fleet and Rs 500 crore has been set aside for the strategic railway lines , including one each to connect Leh in Jammu and Kashmir and Tawang in Arunachal Pradesh besides two more in the north eastern state. 

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Indian defence budget US $ 40 billion

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