More reports on: Economy - general
Union Budget 2011: Defence gets a 11% booster shot news
28 February 2011

New Delhi: Through a customary one-line reference, the ministry of defence received a booster shot on Monday from the central union budget, with allocations being raised by 11 per cent, bringing overall allotments for 2011-12 to Rs164,415 crore (approx $36 billion).

The allocations will be used to finance the rapid modernization of the Indian Army, Navy and the Air Force.

Capital expenditure has been increased to Rs69,199 crore.

"In the budget for 2011-12, a provision of Rs164,415 crore has been made for the defence services, which includes Rs69,199 crore for capital expenditure," Mukherjee said.

"Needless to say, any further requirement for the country's defence would be made," he said.

Indian armed forces are currently undergoing a modernization process aimed at arresting continued neglect through the earlier decades. A number of high-profile projects have already been sanctioned and others are on the cards.

The Indian state also deals with several debilitating insurgencies, all of which prove to be a big drag on the ministry of defence's finances.

 search domain-b
Legal Policy | Copyright © 1999-2011 The Information Company Private Limited. All rights reserved.  
Union Budget 2011: Defence gets a 11% booster shot