Budget 2021: Defence Budget sees a 7.4% Hike

New Delhi, 1/2: Amidst the tensions with China, India has hiked its military expenses in the Budget for Fy 2021. Finance minister Nirmala Sitharaman has allocated Rs 3.62 lakh crore, excluding pensions, for defence expenditure. The budget was raised by 7.4% in the budget. The total outlay for the Defence Ministry in Budget 2021 is pegged at Rs 4,78,195.62 crore.

The outlay for weapons and modernization has been increased from Rs 1,13,734 lakh crore last year to Rs 1,35,060 crore for 2021-22 — a rise of 18 percent.

The Union Defence Minister Rajnath Singh has expressed his gratitude towards the Finance minister for the Defence budget. Reportedly the defence budget is highest in 15 years.

“I specially thank PM and 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 nearly 19 per cent increase in Defence capital expenditure. This is highest ever increase in capital outlay for defence in 15 years,” Defence Minister Rajnath Singh tweeted.

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