Military budget of India

The military budget of the India is the portion of the overall budget of Union budget of India that is allocated for the funding of the Indian Armed Forces.[1] This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles.

Union Minister for Finance, Arun Jaitley allocated Rs 3.59 lakh crore (equivalent to USD $53.5bn) for the development in the army forces marking an raise of around 7 per cent from the last fiscal.[2] Union Minister for Finance, Arun Jaitley allocated Rs.2,74,114 crores including 86,488 crores for Defence capital in the 2017 Union budget of India.[3]

Expenditure

Expenditure (% of GDP)

Year Govt. proposed Expenditure Difference
2015 NDA 2.3 0.3Decrease
2014 NDA 2.6 0.2Increase [1]
2013-14 UPA 2.4 0.1Decrease
2012 UPA 2.5 0.1Decrease
2011 UPA 2.6 0.1Decrease
2010 UPA 2.9 0.2Decrease
2009 UPA 2.9 -

The above statistics was collected by World Bank up to 2013.[4]

Capital acquisition

Armed Force BE 2013-14 (Rs in Cr) RE 2013-14 (Rs in Cr) Under/over Spending (Rs in Cr) Under/over Spending (%) Interim 2014-15 (Rs in Cr) % Growth of Interim 2014-15 over BE 2013-14
Army 23423.23 10871.22 2525.82 18.95 20920.20 56.83Increase
Navy 19972.78 19234.31 3614.47 15.39 23020.86 1.95Decrease
Air Force 37048.06 36016.54 1031.52 2.78 31817.89 14.12Decrease
Total 73853.88 66682.07 7171.81 9.71 75738.95 2.55Increase

The above data was published by Institute for Defence Studies and Analyses.[5]

References

  1. 1 2 "Arms race: India approves defence procurements worth $3.5 bn, says report". The Express Tribune. 20 July 2014. Retrieved 20 July 2014.
  2. ↑ Behera, Laxman K (February 3, 2017). "India's Defence Budget 2017-18:An Analysis". Institute for Defence Studies and Analyses. IDSA. Retrieved May 8, 2017.
  3. ↑ "India's defence budget hiked 10pc to INR 2.74 trillion". DAWN.COM. 2017-02-01. Retrieved 2017-02-01.
  4. ↑ "Military expenditure (% of GDP)". worldbank.org. Retrieved 20 July 2014.
  5. ↑ "India’s Interim Defence Budget 2014-15: An Appraisal". idsa.in. Retrieved 20 July 2014.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.