News Brief
Defence Budget For 2023-24 Set At Rs 5.93 Lakh Crore, A Hike Of Over 12.5 Per Cent From Last Year
Ujjawal Mishra
Feb 01, 2023, 02:07 PM | Updated 02:40 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The Narendra Modi government has increased the defence budget to Rs 5.93 lakh crore for 2023-24, from Rs 5.25 lakh crores the previous year. This constitutes a hike of over 12.5 per cent from last year.
Out of the total budget of Rs 5.96 lakh crore, Rs 1.62 lakh crore will be allocated for purchasing new military equipment such as fighter jets, submarines, warships, missiles, and others. This represents a 6.7 per cent increase from last year's allocation of Rs 1.52 lakh crore.
However, the pensions budget has risen significantly, from Rs 1.19 lakh crore last year to Rs 1.38 lakh crore this year, which is an increase of around 15 per cent.
More details awaited.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Ujjawal Mishra is a Staff Writer at Swarajya. He tweets @Ujjawal1Mishra.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.