Logo

Logo

Defence allocation up by 11.3 per cent

There has been a marginal increase of six per cent compared to last year in allocation for Defence in the…

Defence allocation up by 11.3 per cent

Defence

There has been a marginal increase of six per cent compared to last year in allocation for Defence in the Union Budget 2018-19 going up to Rs 3.05 lakh crore from Rs 2.74 lakh crore. Keeping in view the increasing threat on two fronts, along the Western sector with Pakistan and North East with China, a Parliamentary panel had in December recommended that the government increase the defence budget in 2018 to meet the global standard of 2-2.5 per cent of GDP.

Presenting what is probably the ruling BJP-led NDA Government’s last budget ahead of Lok Sabha polls next year, Finance Minister Arun Jaitley said on Thursday that the government would ensure adequate budgetary support to the Defence Sector as it will be its priority.

Jaitley said that a lot of emphasis has been given to modernising and enhancing the operational capability of the Defence forces over the last three-and-a-half years and appreciated the role played by the armed forces in meeting the challenges on the country’s borders as well as in managing the internal security environment both in Jammu and Kashmir and the North East.

Advertisement

“Our armed forces have played a stellar role in meeting the challenges we have been facing on our borders as well as in managing the internal security environment both in Jammu and Kashmir and the North East,” he said while placing on record the government’s appreciation for the efforts and the sacrifices made by the three services in defending the interests of the Nation.

A number of initiatives have been taken to develop and nurture intrinsic defence production capability to make the nation self-reliant for meeting its defence needs, he said. “Ensuring adequate budgetary support will be our priority,” Jaitley said, adding that the government has opened up private investment in defence production including liberalising foreign direct investment.

“We will take measures to develop two defence industrial production corridors in the country. The government will also bring out an industry friendly Defence Production Policy 2018 to promote domestic production by public sector, private sector and MSMEs,” he said.

Advertisement