Economy

Union Budget 2022: 68 Per Cent Of Capital Procurement Budget For Defence To Be Earmarked For Domestic Industry

Swarajya StaffFeb 01, 2022, 12:21 PM | Updated 12:21 PM IST
Representative image

Representative image


Union Finance Minister Nirmala Sitharaman on Tuesday (1 February) presented the Union Budget 2022-23 in the Parliament.

In the budget speech, the Finance Minister announced that 68% of the capital procurement budget for defence will be earmarked for domestic industry.


She also announced that defence R&D will be opened up for industry and start-ups whilst adding that an umbrella body will be be set up for certification of defence equipment.

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