Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023 in Parliament. This year, defence allocations grew by 12.9 percent as compared to the previous financial year. The budgetary allocation for defence for FY 2023–24 is Rs 5.93 lakh crore. Meanwhile, last year, it was Rs 5.25 lakh crore.
“The Union Budget for Financial Year 2023-24 envisages a total outlay of Rs 45,03,097 crore. Of this, the Ministry of Defence has been allocated a total budget of Rs 5,93,537.64 crore, which is 13.18 % of the total budget. This includes an amount of Rs 1,38,205 crore for Defence Pensions. The total Defence Budget represents an enhancement of Rs 68,371.49 crore (13%) over the Budget of 2022-23.,” the Defence Ministry said.
A total of Rs. 1.62 lakh crore has been set aside for capital expenditure for modernisation and infrastructure development of the armed forces, including the purchase of new weapons, aircraft, warships, and other military hardware. Also, the increase in the capital budget since 2019–20 has been Rs 59,200 crore (57%).
“This increase is a reflection of the Government’s commitment towards sustainable augmentation in the area of modernisation & infrastructure development of the Defence Services,” the ministry said.
Notably, the non-Salary revenue outlay has been enhanced significantly from Rs 62,431 crore in Budget Estimates (BE) 2022-23 to Rs 90,000 crore in BE 2023-24, representing an increase of 44 percent.
Meanwhile, an allocation of Rs 2,70,120 crore has been made for revenue expenditure, including expenditure on salaries and maintenance of establishments. In 2022-23, the salaries and maintenance of establishments Rs 2,39,000 crore. The capital outlay for the Ministry of Defence (Civil) has been pegged at Rs 13,837 crore as compared to the previous year’s Rs 8,774 crore.
Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023 in Parliament. This year, defence allocations grew by 12.9 percent as compared to the previous financial year. The budgetary allocation for defence for FY 2023–24 is Rs 5.93 lakh crore. Meanwhile, last year, it was Rs 5.25 lakh crore.
“The Union Budget for Financial Year 2023-24 envisages a total outlay of Rs 45,03,097 crore. Of this, the Ministry of Defence has been allocated a total budget of Rs 5,93,537.64 crore, which is 13.18 % of the total budget. This includes an amount of Rs 1,38,205 crore for Defence Pensions. The total Defence Budget represents an enhancement of Rs 68,371.49 crore (13%) over the Budget of 2022-23.,” the Defence Ministry said.
A total of Rs. 1.62 lakh crore has been set aside for capital expenditure for modernisation and infrastructure development of the armed forces, including the purchase of new weapons, aircraft, warships, and other military hardware. Also, the increase in the capital budget since 2019–20 has been Rs 59,200 crore (57%).
“This increase is a reflection of the Government’s commitment towards sustainable augmentation in the area of modernisation & infrastructure development of the Defence Services,” the ministry said.
Notably, the non-Salary revenue outlay has been enhanced significantly from Rs 62,431 crore in Budget Estimates (BE) 2022-23 to Rs 90,000 crore in BE 2023-24, representing an increase of 44 percent.
Meanwhile, an allocation of Rs 2,70,120 crore has been made for revenue expenditure, including expenditure on salaries and maintenance of establishments. In 2022-23, the salaries and maintenance of establishments Rs 2,39,000 crore. The capital outlay for the Ministry of Defence (Civil) has been pegged at Rs 13,837 crore as compared to the previous year’s Rs 8,774 crore.