Union Budget 2024 | Defence gets maximum at Rs 6.22 lakh crore, but it is same as the interim budget
New Delhi: India’s regular defence budget remains virtually the same as the one made in the interim budget earlier this year with the Finance Minister Nirmala Sitharaman allocating Rs 6.22 lakh crore for the Defence Ministry.
This includes a capital allocation of Rs 1.72 lakh crore and a 30 per cent rise in the funding of the Border Roads Organisation, which builds roads, bridges and tunnels close to India’s disputed boundary with China.
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“The Ministry of Defence has been allocated Rs 6,21,940.85 crore ($75 billion), the highest among the ministries. This is 4.79 per cent more than allocation of FY 2023-24,” the defence ministry said in a statement.
The budgetary allocation for capital acquisition in FY25 is Rs 1.72 lakh crore, which is less than 6 per cent increase compared to FY24. The rise, however, is 9.4 per cent when compared against the revised estimate of the last fiscal.
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In a social media post Defence minister Rajnath Singh said Rs 1,05,518 crore – over 60 per cent of the capital budget – was earmarked for domestic capital procurement to provide further impetus to the ‘Aatmanibharta’ in defence.
The defence budget includes Rs 92,088 crore for sustenance and operational readiness. The allocation is marginally more than Rs 90,000 crore issued but 48 per cent higher than the budgetary allocation of FY23 at the height of the India-China conflict in eastern Ladakh.
The money is aimed to provide best maintenance facilities and support systems to all platforms including aircraft and ships. It facilitates procurement of ammunition; mobility of resources & personnel and strengthens the deployment in forward areas for any unforeseen situation.
At Rs 6,500 crore, the allocation for BRO is 30 per cent more than last year’s budgetary estimates, but it is the same as the revised estimate as well as the interim budget.
“Projects such as development of Nyoma Airfield in Ladakh at an altitude of 13,700 feet, permanent bridge connectivity to southernmost Panchayat of India in Andaman and Nicobar Islands, 4.1 km strategically-important Shinku La tunnel in Himachal Pradesh, Nechiphu tunnel in Arunachal Pradesh and many other projects will be funded out of this allocation,” said a ministry official.
For 32 lakh defence pensioners, the total budgetary allocation is Rs 1.41 lakh crore which is 2.17 per cent higher than the allocation made in FY24.
The Indian Coast Guard has been allocated Rs 7652 crore, of which nearly 50 per cent will be spent on arming the force to tackle emerging maritime challenges.
Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman presented her 7th consecutive Union Budget on July 23, 2024 under the Modi 3.0 government. This Budget brought tax relief for the middle class, while focusing on jobs through skilling, incentivising employers. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.