Representative image indicating government expenditure.
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The Interim Budget 2024 is slated to be presented on February 1.
Ahead of the Budget that comes with Lok Sabha polls around the corner, here's a look at the government's expenses as outlined in the 2023-24 Budget:
The government proposed to spend Rs 45,03,097 crore in 2023-24, a 7.5 per cent increase over the revised estimate of 2022-23.
Here's a look at the percentage of expenses in various fields borne by the government:
For a more detailed look at India's Expenditure Profile in 2023-24, check here.
As far as allocation for specific ministries is concerned, Defence saw the most money pumped in, to the tune of Rs 5.94 lakh crore, followed by Road Transport and Highways, which received Rs 2.70 lakh crore.
The government set aside Rs 2.41 lakh crore for Railways while Rs 2.06 lakh crore was earmarked for the Ministry of Consumer Affairs, Food & Public Distribution.
The Narendra Modi-led government also set aside Rs 1.96 lakh crore for the Ministry of Home Affairs and Rs 1.78 lakh crore for the Ministry of Chemicals and Fertilizers respectively.
The ministries of Rural Development, Agriculture and Farmer's Welfare and Communications were all slated to get Rs 1.60 lakh crore, 1.25 lakh crore, and 1.23 lakh crore respectively.
Ahead of the upcoming budget, India's Defence Secretary Giridhar Aramane told CNBC-TV18 that India's defence capital spending is set to receive a boost. He expects defence production to cross Rs 1.5 lakh crore in FY24.
"Recent wars have shown how huge platforms like submarines, fighter jets, and warships can be neutralised by low-cost drones. This has highlighted the need to strengthen defence with the cheapest possible solutions. We need the private sector and new age companies to work on drones, UAVs, electronic warfare, improve air defence, and ground mobility, the Defence Secretary further said to the publication.