Rs 5.94 lakh cr for Defence
   Date :02-Feb-2023

Defence Budget was on Wednesday increased to Rs 5.94 lakh crore for 2023-24 in a modest hike of 13 per cent from last year’s allocation of Rs 5.25 lakh crore amid India’s continuing border row with China in eastern Ladakh and concerns over rising Chinese forays into the Indian Ocean Region. In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,62,600 crore was set aside to military for capital expenditure that largely includes purchasing new weapons, aircraft, warships and other military hardware. For 2022-23, the budgetary allocation for capital outlay was Rs 1.52 lakh crore but the revised estimate showed the expenditure at Rs 1.50 lakh crore. The capital allocations of Rs 1,62,600 crore marked a
hike of Rs 10,230 crore over last year’s outlay and it is a 6.7 per cent increase. The capital budget of the Border Roads Organisation (BRO) has been increased to Rs 5,000 crore as against Rs 3,500 crore in 2022-23 which is a hike of 43 per cent. “The Union Budget for the Financial Year 2023-24 envisages a total outlay of Rs. 45,03,097 crore. Of this, Ministry of Defence has been allocated a total Budget of Rs 5,93,537.64 crore, which is 13.18 per cent of the total GoI Budget,” Defence Minister Rajnath Singh tweeted.
The total revenue expenditure has been pegged at Rs 4,22,162 crore that included Rs 1,38,205 crore for defence pensions, Rs 2,70,120 crore for defence services and Rs 13,837 crore for Ministry of Defence (Civil). The capital outlay for the IAF was highest at Rs 57,137.09 crore that included Rs 15,721 crore for procurement of aircraft and Rs 36,223.13 cr for other equipment. An amount of Rs 52,804 crore was set aside as the capital outlay for the Indian Navy as against Rs 47,590 crore given to the force in 2022-23.