Budget 2018: Rs.2.95 lakh cr allocated for defence, up by 9 pc
NEW DELHI: The defence budget was increased by a mere 7.81 per cent to Rs 2.95 lakh crore against last year’s Rs 2.74 lakh crore, belying expectations of a significant hike when the armed forces are facing growing challenge on the borders with both Pakistan and China. In his budget address, Finance Minister Arun Jaitley said the government will develop two defence industrial production corridors and bring out an industry-friendly military production policy to promote the domestic defence industry.Out of total allocation of Rs 2,95,511 crore for defence budget, only Rs 99,947 crore has been set aside for capital outlay to purchase of new weapons, aircraft, warships and other military hardware. The allocation has been estimated at around 1.58 per cent of the GDP and 12.10 per cent of the total budget of Rs 24,42,213 crore for 2018-19. Military experts said the allocation for defence budget was inadequate to modernise India’s armed forces when they are having to deal with an increasingly assertive China on the northern frontier and Pakistan’s continued hostilities along the western border. “The allocation is not at all adequate for modernisation of our armed forces. The expectation was much more,” said Dr Laxman Behera of Institute of Defence Studies and Analysis. A separate amount of Rs1,08,853 crore has been set aside over the above the total allocation for the paying pension to defence personnel.
For more news updates Follow and Like us on Facebook