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The Interim Budget for financial year 2009-10 was announced by the Indian Finance Minister Pranab Mukherjee on Feb 16. The defence allocation has been increased by 34 per cent. The defence budget for 2009-10 is to the tune of $28.34 billion which is 15 per cent of the total budget.
The budget increase in the defence sector is only 23.6 per cent in real terms, explained the External Affairs Minister. This is due to the fact that the revised expenditure for 2008-09 has been placed at $22.92 billion against the allocation of $21.12 billion.
Out of the allocated sum for the fiscal year beginning April 1, plan expenditure has been placed at $17.37 billion against $14.72 billion for the financial year just ending (2008-09). This includes $10.96 billion for capital expenditure as against $8.2 billion in the revised estimates for 2008-09.
As usual, the Indian Army has received a major chunk of 41 per cent out of the defence budget which is $11.72 billion followed by the Indian Air Force receiving $2.86 billion and the Indian Navy being allocated $1.66 billion.
After the breakdown of the defence allocation to various forces, the hike for the Indian Army works out to a little less than $2 billion over the revised estimates of $9.6 billion. The original allocation for the Army in the 2008-09 proposals was $7.25 billion.
The Indian Navy received a hike of only $57.6 million over the revised estimates of $1.6 billion for the fiscal just ending. However, it’s an increase of $180.2 million over the original allocation.
As for the Indian Air Force, the increase is to the tune of $221.8 million over the revised estimates $2.43 billion for the closing fiscal against an original allocation of $2.17 billion.
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