Union Budget 2022: Rs 5.25 lakh crores allocated to Defence Ministry and Services

In the budget, special emphasis has been given on development and research to strengthen the defense sector and 25 percent more funds will be given to DRDO.

Yogita
Published on: 1 Feb 2022 9:16 AM GMT
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New Delhi: Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2022-23 today. Finance Minister Nirmala Sitharaman has focused this time's defense budget on Make in India. Apart from this, emphasis has also been laid on defense modernization and export of defense equipment. The capital budget of the defense sector has now been increased to 68 per cent from 58 per cent in the last fiscal.

Union Budget 2022:

There is also a special thing that the cooperation of startups and private sector will be taken in defense research, development and manufacturing. 68 per cent of the capital procurement budget for the defense sector will be spent to promote self-reliance. The country has been spending a huge amount on the import of defense equipment. Now the dependence on the domestic industry will be increased to reduce the dependence on imports. In this financial year, other options will be explored in this area through Make in India.

Defence Budget:

In the budget, special emphasis has been given on development and research to strengthen the defense sector and 25 percent more funds will be given to DRDO. An additional 25% of the amount to be given to the institute will be spent on increasing some new dimensions for rapid research and development. Defense R&D will be opened to startups and academicians.

Private industry will be encouraged to design and develop military platforms and equipment. India is the second largest importer of defense equipment. The country which depends on the import of defense equipment can never become strong, so it is very important for the country to become self-reliant in the defense sector. Recently, the government has sealed many defense deals, but these arrangements are still insufficient for the world's fourth most powerful army.

Defence Ministry has been allocated Rs 2.39 lakh crores against the Rs 2.33 lakh crores allocated last year. The Defence pension budget of the ministry is Rs 1.19 lakh crores.

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Yogita

Yogita

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