India raises defense budget modestly

Discussion in 'Defence & Strategic Issues' started by Ashok mourya, Feb 28, 2015.

  1. Ashok mourya

    Ashok mourya Regular Member

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    BY SANJEEV MIGLANI
    NEW DELHI Sat Feb 28, 2015 2:20pm IST


    CREDIT: REUTERS/ADNAN ABIDI


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    (Reuters) - India announced on Saturday a modest 7.9 percent increase in defence spending for the fiscal year starting April 1, suggesting that it will move only gradually with the military's long wish list for fighter jets, ships and artillery.

    After years of neglect, India is trying to narrow the military gap with China, which has been building up its fleet of ships and submarines making forays in the Indian Ocean.

    Finance Minister Arun Jaitley, unveiling the federal budget for 2015/16, said defence spending will rise to 2.47 trillion Indian rupees ($40.07 billion). For the current fiscal year, the allocation was 2.29 trillion rupees, a jump of 12 percent over the previous year.

    "Defence of every inch of our land is above everything else," Jaitley said.

    But the limited rise in the military budget - three-quarters of which is spent on maintaining the world's third largest standing force - means only some new weapons will be ordered this year.

    Gurmeet Kanwal, a retired brigadier and fellow at the Vivekananda International Foundation, a New Delhi think tank with ties to the government, said the state has to make initial downpayments for a range of pending orders.

    He listed them as 126 fighter aircraft from Dassault, 197 light helicopters, 145 Ultra-light Howitzers, 15 Apache attack helicopters and 22 CH-47F Chinook medium lift helicopters.

    The navy needs new submarines and stealth ships to counter the Chinese presence in the Indian Ocean, which New Delhi has long seen as its sphere of influence.

    China is expected to authorise robust 2015 defence spending this coming week despite its slowing economy, largely to beef up the navy with anti-submarine ships and develop more aircraft carriers beyond the sole vessel in operation.

    Last year, the two giant neighbours were locked in a stand-off on their disputed Himalayan border that cast a shadow on President Xi Jinping's first summit meeting with Indian Prime Minister Narendra Modi.

    But economic ties have rapidly expanded between the two countries and Modi is expected to visit China later in 2015.

    (Reporting by Sanjeev Miglani; Editing by Richard Borsuk)
     
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  3. Ashok mourya

    Ashok mourya Regular Member

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    Union budget: Govt raises defence budget for 2015-16 by 7.5% Jaitley increased the defence budget to Rs2.46 trillion from Rs2.29 trillion in the current fiscal year
    Tarun Shukla live mint



    New Delhi: Finance minister Arun Jaitley raised the defence budget for 2015-16 by 7.5%, saying he intended to focus on the ‘Make in India’ initiative to boost local manufacturing of defence equipment and exports in the coming year. Jaitley increased the defence budget to Rs.2.46 trillion from Rs.2.29 trillion in the current fiscal year. “We are pursuing policy of Make In India in defence not only to cater our needs but also for export,” Jaitley said in his speech. In 2010, India overtook China as the world’s biggest importer of defence equipment, according to the Stockholm International Peace Research Institute (Sipri). In 2013, total arms deliveries to India (as opposed to the value of contracts signed) touched $5.9 billion. Almost half of India’s $13.4 billion budget for equipment modernization was spent on foreign weaponry
     
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