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Budget lays the strong foundation for Self-Reliant India: Rajnath Singh as defence sector gets ₹4.78 lakh crore
Singh said that amid the ongoing coronavirus disease (Covid-19) pandemic, Sitharaman had already presented five mini-budgets in the form of packages last year and this budget was the biggest addition in that series.
Defence minister Rajnath Singh said on Monday the budget announced Union finance minister Nirmala Sitharaman will expedite the country’s economic transformation as he congratulated her for presenting a financial document, which he said laid a strong foundation of a self-reliant India. Singh, in a series of tweets, thanked the finance minister for increasing the defence budget to ₹4.78 lakh crore and pointed it was nearly a 19 per cent increase in India's defence capital expenditure, and the highest ever increase in the capital outlay for defence in more than a decade.
“Congratulations to Finance Minister Smt. @nsitharaman for presenting the first Digital Budget which lays the strong foundation for a Self-Reliant India. Inspired by PM Shri@narendramodi’s vision of Inclusive Development this Budget will expedite India’s economic transformation,” he tweeted.
“During the challenging times of COVID-Pandemic the FM had presented five mini-budgets in the form of packages in 2020. This Budget is the biggest addition in that series. This Budget is unprecedented in many ways and it will strengthen the sankalp of ‘Atmanirbhar Bharat’,” he said.
Out of the total amount allocated by the Centre towards the defence sector, ₹3.62 lakh crore will be for the armed forces and ₹1.35 lakh crore had been set aside for capital outlay to buy new weapons, aircraft, warships and other military hardware, Sitharaman said during the budget presentation. In the last year’s Union budget, ₹4.71 lakh crore was allocated for the defence sector of which capital outlay stood at ₹1.13 lakh crore.
The total revenue expenditure for defence, which comprises expenses on payment of salaries and maintenance of establishments has been pegged at ₹3.37 lakh crore. Meanwhile, ₹1.15 lakh crore has been set aside for payment of pensions under the revenue expenditure.
“I specially thank PM & FM for increasing the defence budget to 4.78 lakh cr for FY21-22 which includes capital expenditure worth ₹1.35 lakh crore. It is nearly 19 percent increase in Defence capital expenditure. This is highest ever increase in capital outlay for defence in 15yrs,” he tweeted.
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Singh said that amid the ongoing coronavirus disease (Covid-19) pandemic, Sitharaman had already presented five mini-budgets in the form of packages last year and this budget was the biggest addition in that series.
“Special attention has been paid to economic reforms, employment generation, capital formation and creating infrastructure in India,’ the defence minister wrote.
