follow us:
Finance Minister Nirmala Sitharaman announced a significant allocation of ₹6,21,940 crore to the Defense Ministry in the Union Budget 2024-25, marking a 4.79% increase from the previous financial year.
Finance Minister Nirmala Sitharaman announced a significant allocation of ₹6,21,940 crore to the Defense Ministry in the Union Budget 2024-25, marking a 4.79% increase from the previous financial year. This substantial budget, which accounts for nearly 13% of the total government expenditure, underscores the administration’s commitment to strengthening India’s defense capabilities and promoting self-reliance in the sector.
The capital outlay for the defense forces has been set at ₹1.72 lakh crore, with a focus on equipping the armed forces with modern weapons and technology. To further boost domestic manufacturing and reduce reliance on imports, 75% of the modernization budget, amounting to ₹1,05,518 crore, has been earmarked for procurement through domestic industries.
The budget also aims to create job opportunities for the youth by supporting the startup ecosystem in the defense sector. ₹518 crore has been allocated to the Acing Development of Innovative Technologies with iDEX (ADITI) scheme, which will fund technological solutions from startups, MSMEs, and innovators.
In addition to strengthening the armed forces, the budget prioritizes the development of border infrastructure. The allocation to the Border Roads Organisation (BRO) under the capital expenditure for Budget Estimates (BE) 2024-25 has been increased by 30% to ₹6,500 crore. This move aims to enhance strategic infrastructure development and boost socio-economic growth in border areas.
The Indian Coast Guard (ICG) has also received a significant allocation of ₹7,651.80 crore for FY 2024-25, with ₹3,500 crore dedicated to capital expenditure. This funding will enhance the ICG’s capabilities to address emerging maritime challenges and provide humanitarian assistance to other nations.
Defense Minister Rajnath Singh expressed gratitude to Finance Minister Nirmala Sitharaman for the highest allocation to the Defense Ministry, stating that it will help in moving towards a prosperous and self-reliant ‘Viksit Bharat’. The budget’s focus on promoting ‘Aatmanirbharta’ (self-reliance) in defense technology and manufacturing, equipping the armed forces with modern weapons, and creating job opportunities for the youth underscores the government’s commitment to strengthening India’s defense and strategic capabilities.
