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Defence Budget : FM allocates Rs 4.78 lakh crores for defence ministry

New Delhi: Presenting the Union Budget for 2021-22, Union Finance Minister Nirmala Sitharaman on Monday allocated Rs 4.78 lakh crores for the defence ministry. The total amount includes capital expenditure worth Rs 1.35 lakh crore.

Defence Minsiter Rajnath Singh thanked Prime Minister Narendra Modi and Sitharaman for increasing the defence budget.

 

“I specially thank PM& FM for increasing the defence budget to 4.78 lakh cr for FY21-22 which includes capital expenditure worth Rs 1.35 lakh crore. It is nearly19 percent increase in Defence capital expenditure. This is highest ever increase in capital outlay for defence in 15yrs,” Singh tweeted.

The defence minister praised his government’s Budget 2021-22 and said that it has been based on six pillars of good governance

“Special attention has been paid to economic reforms, employment generation, capital formation and creating infrastructure in India. Based on 6 pillars of good governance this Budget will usher India into a new era of inclusive growth and prosperity,” Singh said.

Sitharaman, in her Budget speech, said that post-pandemic, a new world order seems to be emerging and India will have a leading role therein.

Commenting on as to why the finance minister didn’t mention the defence budget allocation during her speech, NITI Aayog Vice Chairman Rajiv Kumar said that It’s (Defence) was not a part of the speech but it’s there in the Budget).

Kumar said that the FM has focussed on six major pillars in the Budget. Defence expenditure is important but less connected to our progress and the Budget 2021-22 is focussed on accelerating pace of our progress, Kumar said.