New Delhi: Defence Budget has been hiked by just 7.74% and the forces will get Rs 2,46,727 crore in Financial Year 2015-16 compared to Rs 2,29,000 crore in the last fiscal. "Defence of every square inch of our mother land comes before anything else. Keeping our defence forces ready for any eventuality. This year too, I have provided adequately for the needs of the armed forces," Finance Minister Arun Jaitley said while announcing the details.
In the first-full fledged Budget of the Narendra Modi government, Jaitley on Saturday announced Make in India policy to achieve greater self-sufficiency in the area of defence equipment. The Finance Minister emphasised on using indigenous material rather than imports.
"So far, we have been over dependent on imports, with its attendant unwelcome spin-offs. Our Government has already permitted FDI in defence so that the Indian-controlled entities also become manufacturers of defence equipment, not only for us, but for export," he said.
Army gets 26225.32 crore, Air Force gets 33107.23 crore with provision of 18866.01 Crore for Air Crafts & Aero Engines and Navy gets total 24080.9 Crore.
Defence Research(DRDO) has been allocated 7788.40, only 0.08% more than revised estimate of 2014-15.
Defence forces are working towards modernising their assets and look towards finalising major deals such as the 126 multi-role combat aircraft contract, which is expected to be worth over Rs 60,000 crore. The other major acquisitions expected to be finalised include the deals for 22 Apache combat choppers, 15 Chinook heavy-lift helicopters and six mid-air refuelling aircraft.
Similarly the Navy is looking to expand its capabilities and build more submarines including a few nuclear powered ones, indigenous aircraft carriers and other warships. The Army too is on a modernisation drive and looking for better assault rifles, artillery guns, night vision equipment etc.
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