National Desk, Feb 1: In a move aimed at strengthening the country’s defence capabilities, the Indian government unveiled an increased budget of ₹6.21 lakh crore for the 2024-25 fiscal year. This represents a 4.72% hike compared to the previous year’s allocation and signifies the government’s commitment to modernize the armed forces with cutting-edge technology and weaponry.
The enhanced budget allocation will allow for the procurement of state-of-the-art fighter aircraft, ships, unmanned aerial vehicles (UAVs), and specialist vehicles, enhancing the operational readiness and deterrence capabilities of the Indian military. Key projects include the planned modernization of the Su-30 fleet, acquisition of advanced engines for MiG-29 aircraft, and procurement of C-295 transport aircraft and advanced missile systems.
Furthermore, the budget prioritizes the “Make in India” initiative by providing additional funding for the LCA Mk-I project, ensuring domestic production of next-generation weapon systems. This focus on self-reliance aims to not only equip the armed forces effectively but also boost the domestic economy by creating jobs and stimulating capital formation.
The allocation breakdown reveals that 27.67% is dedicated to capital expenditure, enabling critical acquisitions. Additionally, 14.82% caters to revenue expenditure for operational preparedness, while 30.68% goes towards pay and allowances, and 22.72% covers pensions.
This increased defence budget aligns with the Long Term Integrated Perspective Plan (LTIPP) of the three services, aiming to address critical capability gaps and achieve long-term modernization goals. With this significant investment, the Indian government demonstrates its resolve to ensure the country’s security and safeguard its strategic interests in the evolving global landscape.
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