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.
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Defence Budget 2021: Defence Allocation Increased to Rs 4.78 Lakh Crore With 18.75% Hike in Capital Outlay
Union Finance Minister Nirmala Sitharaman on Monday presented the Budget 2021 in the Lok Sabha. A significant push has been given to the defence sector. Defence allocation in the budget has been increased to Rs 4,78,195.62 crore for the Financial Year 2021-22.