Union Budget 2021: Centre allocates Rs 4.78 lakh crores for defence ministry, hikes capital outlay by 19% – India News , Firstpost

The complete outlay of Rs 4.78 lakh crore included an allocation of Rs 1.15 lakh crore for fee of pensions

Representational picture. Reuters

New Delhi: At a time Indian and Chinese troops are locked in a standoff in jap Ladakh, the federal government on Monday elevated the capital outlay for the armed forces by almost 19 p.c whereas allocating a complete of Rs 4.78 lakh crore for defence finances for 2021-22 as in opposition to Rs 4.71 lakh crore final 12 months.

Rs 1.35 lakh crore has been put aside for capital expenditure that features buying new weapons, plane, warships and different navy {hardware}, in response to the Union Budget offered within the Lok Sabha by Finance Minister Nirmala Sitharaman.

The capital outlay within the defence finances 2020-21 was Rs 1.13 lakh crore.

Follow LIVE Updates on the Union Budget 2021 right here

In a tweet, Defence Minister Rajnath Singh thanked Prime Minister Narendra Modi and Sitharaman for growing the defence finances to Rs 4.78 lakh crore and stated the almost 19 p.c hike within the capital expenditure is the very best-ever improve within the final 15 years.

The defence minister additionally expressed happiness over Sitharaman’s finances proposal to open 100 new Sainik faculties.

The complete outlay of Rs 4.78 lakh crore included an allocation of Rs 1.15 lakh crore for fee of pensions. Significantly, the allocation for fee of pension has come down because it was Rs 1.33 lakh crore within the earlier finances.

Excluding the pension outgo, the entire income expenditure, which incorporates bills on fee of salaries and upkeep of institutions, has been pegged at Rs 2.12 lakh crore.

Military specialists expressed satisfaction on the general allocation contemplating the antagonistic affect of the coronavirus -triggered pandemic on the economic system, although, they stated, India should steadily improve defence spending to cope with growing exterior threats.

“I am satisfied with the total allocation to the armed forces considering the state of the economy in view of the impact of the coronavirus pandemic,” stated Dr Laxman Behera of the Manohar Parrikar Institute for Defence Studies and Analyses.

He stated the rise of round Rs 22,000 crore in capital outlay is a welcome transfer which can assist the three providers in carrying on with their modernisation drive.

“I specially thank PM and FM for increasing the defence budget to Rs 4.78 lakh cr for FY 21-22 which includes capital expenditure worth Rs 1.35 lakh crore. It is nearly 19 per cent increase in defence capital expenditure. This is the highest ever increase in capital outlay for defence in 15 yrs,” Defence Minister Singh tweeted.

Find newest and upcoming tech devices on-line on Tech2 Gadgets. Get know-how information, devices opinions & rankings. Popular devices together with laptop computer, pill and cellular specs, options, costs, comparability.

Source hyperlink

What do you think?

Written by Business Boy


Leave a Reply

Your email address will not be published. Required fields are marked *



Budget 2021: Blueprint for economic restoration; will make India attractive for investments – India News , Firstpost

Future Retail has requested a tribunal to obtain key permission for its asset sale of $3.4 billion to Reliance Industries – Business News , Firstpost