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

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.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat

All

Defence manufacturer Bharat Electronics secures export order worth Rs 230 crore

State-owned aerospace and defence electronics company Bharat Electronics Limited (BEL) has obtained an export order worth Euro 25.75 million (estimated value of Rs 230...

Amid delays, HAL now aiming to deliver first LCA Mark 1A by August 15; GE engine supplies to start by September

Amid concerns over delays in the delivery of the first LCA Mark 1A fighter jet to the Indian Air Force, Hindustan Aeronautics Limited is...

AMCA 5th Generation Stealth Fighter Updates

AMCA to be integrated with sophisticated indigenous Distributed Aperture System (DAS) that making it a formidable air asset for the Indian Air Force

Source : IgMp Bureau India’s Advanced Medium Combat Aircraft (AMCA) is on the brink of a revolutionary transformation with the integration of a sophisticated Distributed...

AMCA to incorporate the best features of both 5th and 6th Generation fighters: ADA sources

Source : IgMp Bureau India's strides toward indigenous air dominance receive a substantial boost with the green signal for the Advanced Medium Combat Aircraft (AMCA)...

Most Popular

Recent Comments

Archive Months

Miscellanous

First Exercise for Tejas on foreign soil ! Indian Air Force team with 5 LCA Tejas and 2 C-17 aircraft arrived in UAE for...

Source : FirstpostImage Source: Twitter @IAF_MCCNew Delhi: India’s Light Combat Aircraft (LCA) Tejas is all set to debut in a multi-lateral air exercise in the...

Debry Fallen from IAF Su-30 Aircraft Recovered Near Shirur, Pune

https://www.defencenews.in/2023/10/debry-fallen-from-iaf-su-30-aircraft-recovered-near-shirur-pune/https%3A%2F%2Fwww.defencenews.in%2F2023%2F10%2Fdebry-fallen-from-iaf-su-30-aircraft-recovered-near-shirur-pune%2F SOURCE: AFIIn an unusual incident, a 60-foot-long hose pipe and metal parts believed to have fallen from an Indian Air Force (IAF) Su-30...
Visits
error: Content is protected !!