Budget 2024: Govt increases defence budget moderately to Rs 6.21 lakh crore

Interim Budget 2024: The government has moderately increased the defence budget to Rs 6.21 lakh crore for the fiscal year 2024-25, compared to last year's allocation of Rs 5.94 lakh crore. Alongside this, an ambitious scheme focusing on ‘deep-tech’ technologies in the military domain was announced.

For the military's capital expenditure, which includes the acquisition of new weapons, aircraft, warships, and other hardware, a total of Rs 1.72 lakh crore has been allocated. This marks an increase from the budgetary allocation of Rs 1.62 lakh crore for capital outlay in the fiscal year 2023-24.

As part of the efforts towards self-reliance ('Atmanirbharta') in defence, a new scheme will be launched to strengthen deep-tech technologies in the military sector.

The breakdown of the defence budget includes Rs 4,39,300 crore for total revenue expenditure, encompassing Rs 1,41,205 crore for defence pensions, Rs 2,82,772 crore for defence services, and Rs 15,322 crore for the Ministry of Defence (Civil).

Within the capital outlay for defence services, Rs 40,777 crore is allocated for aircraft and aero engines, while Rs 62,343 crore is earmarked for "other equipment." 

(With PTI inputs)