On July 6, India’s Finance Minister Pranab Mukherjee presenting the union budget allocated $28 billion for defence which is the highest ever allocation for the defence forces. This year’s defence budget is 34 percent higher over the previous year defence budget.
The plan expenditure for defence has been allocated at $17.37 billion against $14.72 billion for the previous year. While the capital budget for fresh acquisitions has been marked at $10.96 billion against $8.2 billion in the revised estimates for 2008-09.
The Indian Army has received the largest allocation of $11.72 billion, while the Indian Navy is being allocated $1.66 billion and the Indian Air Force $2.86 billion.
For the acquisition budget, the Indian Air Force has been allocated $4 billion, while $3.55 billion has been allocated for the Indian Army and $2.37 billion for the Indian Navy.
The defence budget has also allocated $4.35 billion, $891 million for the Defence Research and Development Organisation (DRDO) and $164.4 million for defence ordnance factories.
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