Defence allocation raised to Rs 147,344 cr
GK NEWS NETWORK
New Delhi, Feb 26: India’s defence expenditure has been raised to Rs.147,344 crore (Rs.1.47 trillion/$32 billion) for 2010-11, up 8.13 percent from the revised estimates of the previous fiscal, in the budget presented by Finance Minister Pranab Mukherjee in the Lok Sabha Friday.
“Secure borders and security of life and property fosters development. I propose to increase the allocation for defence to Rs.147,344 crore. This would include Rs.60,000 crore for capital expenditure,” Mukherjee said in his budget speech.
“Needless to say, any additional requirement for the security of the nation will be provided for,” he added. Defence Minister A.K. Antony declined to comment on the allocations.
Though the expenditure has been hiked by Rs.11,080 crore, in real terms, however, the hike works out to only 3.98 percent as Rs.141,703 crore had been originally allocated for 2009-10 but this was later revised to Rs.136,264 crore.
Lastupdate on : Fri, 26 Feb 2010 21:30:00 Makkah time
Lastupdate on : Fri, 26 Feb 2010 18:30:00 GMT
Lastupdate on : Sat, 27 Feb 2010 00:00:00 IST
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