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As part of military modernisation drive, Government on Thursday allocated Rs. 2.29 lakh crore for the defence ministry in the Budget, marking an increase of around 12.5% from the last fiscal as it raised the FDI limit in the defence sector up to 49% from 26% now.
The Ministry was allocated Rs. 2,03,672 crore in 2013-14 and was provided Rs. 2,24,000 crore in the interim budget presented by the UPA government in February this year.
"There can be no compromise with the defence of the country. I, therefore, propose to allocate an amount of Rs. 2.29 lakh crore for the current financial year," finance and defence minister Arun Jaitley said, presenting the general budget.
For the modernisation of the armed forces, the finance minister allocated an additional Rs. 5,000 crore above the Rs. 89587.95 crore provided for the acquisition of new weapon systems for the ministry in the interim budget last year...
source --> http://www.hindustantimes.com/speci...-cr-in-union-budget/sp-article10-1238848.aspx
The Ministry was allocated Rs. 2,03,672 crore in 2013-14 and was provided Rs. 2,24,000 crore in the interim budget presented by the UPA government in February this year.
"There can be no compromise with the defence of the country. I, therefore, propose to allocate an amount of Rs. 2.29 lakh crore for the current financial year," finance and defence minister Arun Jaitley said, presenting the general budget.
For the modernisation of the armed forces, the finance minister allocated an additional Rs. 5,000 crore above the Rs. 89587.95 crore provided for the acquisition of new weapon systems for the ministry in the interim budget last year...
source --> http://www.hindustantimes.com/speci...-cr-in-union-budget/sp-article10-1238848.aspx
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