New Delhi (NVI): Union Budget for the Financial Year 2021-22, presented by the Finance Minister Nirmala Sitharaman, has given historic push to defence modernisation by increasing capital outlay by 18.75 per cent.
Defence allocation in the budget has been increased to Rs 4,78,195.62 crore for the FY 2021-22.
This is the highest ever increase in capital outlay of Defence in the last 15 years.
Excluding Defence pension, the allocation in the Union Budget for the armed forces stands at Rs 3.62 lakh crore, which is an increase of Rs 24,792.62 crore over the Current FY 2020-21.
Out of total allocation, Rs 1.35 lakh crore has been set aside for capital outlay to purchase new weapons, aircraft, warships and other military hardware.
Furthermore, the total revenue expenditure, which includes expenses on payment of salaries and maintenance of establishments, has been pegged at Rs 3.37 lakh crore.
The Capital allocation for DRDO has been increased to Rs 11,375.50 crore. This is an increase of 8 per cent over 2020-21 and 8.5 per cent over 2019-20. The allocation for Border Roads Organisation (BRO) has been increased to Rs 6004.08 crore which is 7.48 per cent increase over FY 2021-22 and 14.49 per cent over FY 2019-20.
The total revenue expenditure included Rs 1.15 lakh crore for payment of pensions.
Defence Minister Rajnath Singh has thanked Prime Minister Narendra Modi and Finance Minister Smt Nirmala Sitharaman for increasing the defence budget to 4.78 lakh crore for the Financial Year 2021-22 (FY21-22), 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 the last 15 years.
I specially thank PM& FM for increasing the defence budget to 4.78 lakh cr for FY21-22 which includes capital expenditure worth Rs 1.35 lakh crore. It is nearly19 percent increase in Defence capital expenditure. This is highest ever increase in capital outlay for defence in 15yrs
— Rajnath Singh (@rajnathsingh) February 1, 2021
The Minister said special attention has been paid to economic reforms, employment generation, capital formation and creating infrastructure in India. “Based on 6 pillars of good governance this Budget will usher India into a new era of inclusive growth and prosperity,” he said.
Several new policies & programmes to support India’s farmers, agriculture, infrastructure and reinvigoration of Human Resource have also been announced. I am glad that the Budget has proposed opening of 100 new Sainik Schools in the country. #AtmaNirbharBharatKaBudget
— Rajnath Singh (@rajnathsingh) February 1, 2021
Singh in a series of tweets said, “Several new policies & programmes to support India’s farmers, agriculture, infrastructure and reinvigoration of Human Resource have also been announced. I am glad that the Budget has proposed the opening of 100 new Sainik Schools in the country.
-CHK
