The 2024–2025 defense budget is expected to be Rs 6.21 lakh crore
In a measured ascent, the government augmented the defense budget to Rs 6.21 lakh crore for the fiscal year 2024-25, surpassing the previous year’s allotment of Rs 5.94 lakh crore. Simultaneously, an ambitious initiative was unveiled, focusing on “deep-tech” advancements within the military domain.
During the presentation of the interim Union budget in Parliament, Finance Minister Nirmala Sitharaman earmarked a total of Rs 1.72 lakh crore for military capital expenditures, predominantly encompassing the acquisition of new weaponry, aircraft, warships, and other sophisticated military apparatus. In the fiscal year 2023-24, the budgetary provision for capital outlay stood at Rs 1.62 lakh crore.
Furthermore, the finance minister disclosed the launch of a novel scheme designed to fortify deep-tech capabilities for defense purposes, aiming to expedite ‘atmanirbharta’ or self-reliance in this strategic arena. The comprehensive revenue expenditure is pegged at Rs 4,39,300 crore, encompassing Rs 1,41,205 crore for defense pensions, Rs 2,82,772 crore for defense services, and Rs 15,322 crore for the Ministry of Defense (Civil).
Within the capital outlay for defense services, a sum of Rs 40,777 crore has been allocated for aircraft and aero engines, while Rs 62,343 crore is earmarked for “other equipment.” Additionally, an allocation of Rs 23,800 crore is reserved for the naval fleet, with Rs 6,830 crore designated for naval dockyard projects.
In the budget for 2023-24, the capital outlay for the Indian Air Force claimed the zenith at Rs 57,137.09 crore, encompassing Rs 15,721 crore for the procurement of aircraft and aero engines, along with Rs 36,223.13 crore for other equipment. The revenue expenditure for the Army is set at Rs 1,92,680 crore for the fiscal year 2024-25, while the Navy and the Indian Air Force are allocated Rs 32,778 crore and Rs 46,223 crore, respectively.
Dr. Laxman Kumar Behera, Associate Professor at the Special Centre for National Security Studies at Jawaharlal Nehru University, characterized the overall allocation under the defense budget as modest, reflecting the government’s prioritization of military concerns. He affirmed that the allocations demonstrated unwavering commitment to the armed forces. Dr. Behera also lauded the increase of Rs 10,000 crore in the outlay for capital expenditure as a healthy indicator.
