29 Feb '16, 4pm

India's Defence Budget Hiked by 10% :: Crosses $50 billion

India's Defence Budget Hiked by 10% :: Crosses $50 billion

The defence budget for 2016-17 was increased by 9.76 per cent to Rs. 2.58 lakh crore as compared to the revised estimates of Rs. 2.33 lakh crore for 2015-16 even as military pension zoomed to Rs. 82,000 crore mainly due to the One Rank One Pension scheme. The capital outlay for the three services, for modernisation, stood at Rs. 78,586.68 crore. However, Finance Minister Arun Jaitley made no mention of the defence allocation for 2016-17 in his Budget speech. The defence budget accounts for nearly 17.2 per cent of the total central government expenditure for the year 2016-17 which is Rs. 19.78 lakh crore. This includes the pension budget along with the defence budget. The highest jump has been in the pension expenses. While the revised estimate for the current fiscal was Rs. 60,238 crore, it has jumped to Rs. 82,332.66 crore for the coming financial year. In comparison, the...

Full article: http://www.defencenews.in/article/Indias-Defence-Budget-H...

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