Indian Army's Medium Range Surface to Air Missile System (MRSAM) during the 75th Republic Day parade, at the Kartavya Path in New Delhi, Friday, Jan. 26, 2024.
Credit: PTI Photo
Finance Minister Nirmala Sitharaman on Tuesday presented a record seventh consecutive Union Budget, highlighting the Modi govt 3.0's plans for the economic development of the country for this financial year.
The Budget identified the following areas as priorities: productivity and resilience in agriculture, employment & skilling, inclusive human resource development and social justice, manufacturing & services, urban development, energy security, and infrastructure.
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As per the government's 'Budget at a Glance' document, expenditure on several 'major items', such as agriculture, commerce, defence, education etc. are listed, with regards to various sectors.
Here, we take a look at the allocation for defence in this year's Budget, and how it compares to allocations since 2019-20:
A cursory glance at graph above reveals that defence allocations have consistently grown since 2019-20, when Rs 3.05 lakh crore was allotted, to an impressive Rs 4.54 lakh crore this year, a growth of Rs 1.49 lakh crore since 2019.
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This, perhaps, was expected, given India's border tensions with China and its growing geopolitical stature.
Defence Minister Rajnath Singh welcomed the allocation, thanking FM Sitharaman for the same.
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.