India's Defence spend hiked 7 Percent to Rs.246,727 Crore


Posted on 2nd Mar 2015 11:17 am by mohit kumar

New Delhi, Feb 28 (IANS) India's defence spend was Saturday hiked a modest 7.74 percent to Rs.246,727 crore ($40 billion), with Finance Minister Arun Jaitley declaring that “defence of every inch of our land is above everything else”.

Presenting the budget for 2015-16 in the Lok Sabha, Jaitley said the government was following a policy of transparency and quick decision-making in procurement to keep the defence forces prepared for any eventuality.

He said the government was pushing for Make in India policy in defence manufacturing to reduce dependence on imports.

The allocation is a mere Rs.17,727 crore over the Rs.229,000 crore Jaitley had provided in his maiden budget last July.

As usual, the 13-lakh-strong Indian Army has received Rs.1,04,158 crore -- a hike of Rs.5,846 from the revised estimate of Rs.98,310 crore in 2014-15.

At Rs.23,000 crore, the Indian Air Force allocation is Rs.2,815 crore higher than that of the previous fiscal, while the Indian Navy, at Rs.15,525 crore, has seen a small rise of Rs.1,590 crore.

The capital outlay for the year has been kept at the Rs.94,588 that had been originally allocated for 20144-15 but was reduced to Rs.81,965 crore in the revised estimates.

“What is worrisome is that the allocation as a percentage of the GDP has been steadily going down. This time, it is 1.74 percent of the GDP against 1.75 percent last year and 1.8 percent a year before that,” security expert C. Uday Bhaskar, director of the Centre for Policy Studies, told IANS.

A.K. Antony, the long-serving defence minister in the previous UPA governments, had often been pleading for defence allocation at three percent of the GDP.

“This is not a good sign and means that (Defence Minister Manohar) Parrikar has not been able to do much. We were hoping for a minister who would bite the bullet. Unfortunately, that hasn't happened,” he added.

“There is a very very deep structural flaw in the system. We have to decide what India needs and how we should spend the money. Whether it is the gun or tha man behind the gun, nothing seems to matter (for the government,” Bhaskar maintained.

As for the War Memorial and War Museum, for which Jaitley, then also the defence minister, had allocated Rs.100 crore in his previous budget, a separate implementation document circulated along with the budget paper, said the draft cabinet note for this was “under preparation”.

There has also been little progress in implementing the one-rank-one-pay scheme, for which an additional Rs.1,000 crore had been allocated in the last budget, with the implementation report saying: “The modalities are under consideration.”

“The fact that there has been no allocation on this count is going to send all the wrong signals,” Bhaskar said.

As for the Technology Development Fund that was meant to provide resources to public and private sector companies, including SMEs, as well as academic and scientific institutes to support R&D of defence systems that enhance the country's cutting-edge technology.

“Consultations with stakeholders have been completed and draft cabinet note is being prepared,” the implementation note said.

0 Like 0 Dislike
Previous news Next news
Other news

Weather Update: IMD's alert regarding rain in these states of the country, it may rain today including Delhi-Himachal

Weather Update Today: Due to the rains in many states of the country in the past, the weather has

Referring to Goddess Durga, Rajnath Singh praised Indira Gandhi, said – had led even in war

Defense Minister Rajnath Singh has praised former Prime Minister Indira Gandhi fiercely. Speaking

Aus Vs WI: Australia made two major changes in the team for the second ODI, Travis Head did not get a place in the playing XI.

Travis head released from Australia Squad for 2nd ODI: Australia's opening batsman Travis Head ha

Happy Birthday Dilip Joshi: You will be shocked to know the property of Jethalal of 'Taarak Mehta Ka Ooltah Chashmah', once earned 50 rupees, now the property is worth crores

Taarak Mehta Ka Ooltah Chashmah: TV actor Dilip Joshi is celebrating his 54th birthday today. Jet

After Dr. Reddy's Laboratories of the Russian Vaccine, Discussion of Deal with Cadila Healthcare; How long will we get the vaccine?

India's pharmaceutical company Dr. Reddy's Laboratories (DRL) announced on 16 September that it w

Russia-Ukraine war: Russia hacking countries supporting Ukraine, the report revealed - the murder of journalist Max was a conspiracy

Microsoft claimed in a report on Wednesday that Russia has intensified hacking attempts against U

Nepal political crisis: Chinese ambassador visits mean?

Madhav Kumar, the opponent of Nepal's President VD Bhandari and Prime Minister KP Sharma Oli, was

H1N1 cases rise in Uttar Pradesh; nurse infected

Lucknow, Feb 27 (IANS) With 33 new swine flu cases coming to light since Thursday, the total nu

Delhi launches India's first 'e-ration card' facility

New Delhi, March 27 (IANS) Delhi Chief Minister Arvind Kejriwal on Saturday launched the country

Mahaparinirvan Day: Northeast Frontier Railway celebrates Dr. Ambedkar's Mahaparinirvan Day, Baba inspires all

Bharat Ratna Dr.B. R. Ambedkar's 66th Mahaparinirvan Day Pu. C. Celebrated at the Dr. Bhupen Haza

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash