HomeDefence budget raised by 13%Union Budget 2023: Defence spending increased by 13% to Rs. 5.94 lakh...

Union Budget 2023: Defence spending increased by 13% to Rs. 5.94 lakh crore; more funds for spares, ammunition, border infrastructure

- Advertisement -

Source : The Indian Express

Union Budget 2023: Defence allocations grow by 13%; more funds earmarked for spares, ammunition, border infrastructure
Representative Image


New Delhi: Finance Minister Nirmala Sitharaman Wednesday announced a budgetary allocation of Rs 5.93 lakh crore for defence—a hike of 12.9 per cent over the budgetary estimates of Rs 5.25 lakh crore budgetary estimates in the previous financial year.

While the modernisation funds saw a meagre hike of 6.57 per cent at Rs 1.62 lakh crore, the revenue budget—including the pay and allowances of defence personnel—saw an increase of around 17.39 per cent.

This also includes allocations worth Rs 4266 crore towards the Agnipath scheme for the first time. The scheme was announced last year and the first batch of Agniveers across the three services are undergoing training at present.

The major hike in the revenue budget went to components such as stores, transportation, and works which is used for expenditure towards the maintenance of weapons systems, platforms, and equipment with the Armed Forces through procurement of critical spares and ammunition to maintain the optimal levels of operational preparedness.

In the modernisation budget for the Armed Forces, the Indian Air Force (IAF) got the highest allocation among the three services at Rs 0.57 lakh crore, which was, however, a mere 3.6 per cent hike from the financial year 2022-23.

While the Indian Army was allocated Rs 0.37 lakh crore—a hike of 15.6 per cent from the previous fiscal’s budgetary allocations, the Indian Navy was allocated a capital budget of Rs 0.52 lakh crore, up by 10.6 per cent from the previous financial year.

The defence pensions saw a major hike at Rs 1.38 lakh crore—up by 16 per cent from Rs 1.19 lakh crore in 2022-23—considering the increased pensions with the revision of the One Rank One Pension (OROP) scheme and the arrears worth Rs 23638 crore from 2019 to 2022.

With a push on developing border infrastructure, Rs 5000 crore was allocated for border infrastructure projects, up from Rs 3500 crore in the previous fiscal.

The seven defence public sector undertakings were allocated Rs 1310 crore and the Indian Coast Guard’s budget has been cut to Rs 7197 crore for 2023-34 from Rs 7310 crore.

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

Archive Months

Latest Posts

Indian Air Force to get 500 Thermobaric Explosives for its fighters

Source : Indian Defence Analysis Indian Air Force to get 500 Thermobaric Explosives for its fighters Thermobaric Explosives (TBE) are one of the recent advances in...

HAL looking at Automation technologies and outsourcing workload to Pvt companies to fast track Tejas Mark 2 program

Source : Indian Defence Updates (IDU) Hindustan Aeronautics Ltd (HAL) wants to reduce the manpower hours required for manufacturing Tejas Mark 2 fighter jets for...

4 years of Mission Shakti; How India is preparing to both destroy enemy satellites and deploys its own at emergency basis with Project Veda

Source : Indian Defence Analysis 4 years of Mission Shakti; How India is preparing to both destroy enemy satellites and deploys its own at emergency...

India continues to remain a bright spot in Global Economy

Source : VC Circle India continues to remain a bright spot in Global Economy “India’s pragmatic approach towards navigating the new global order and focusing on...

AUKUS focus is on submarine tech., there is no room for a fourth nation: Sources

Source : The Hindu AUKUS focus is on submarine tech., there is no room for a fourth nation: Sources New Delhi: The primary focus...
Visits
error: Content is protected !!