India allocates record of over Rs 6.21 lakh crore to Defence Ministry

India allocates record of over Rs 6.21 lakh crore to Defence Ministry

NEW DELHI: India today made a record over Rs-6.21 lakh crore allocation to its Defence Ministry in the Interim Union Budget 2024-25. It is more than 4.72% for the 2023-24 fiscal year.
This allocation comes out to be 13.04% of the total Union Budget. Finance Minister Nirmala Sitharaman today (Thursday) tabled an interim budget of Rs-47.66 lakh crore in parliament for fiscal year 2024-25.
"The encouraging Interim Budget outlines the govt vision for a confident, strong & self-reliant Viksit Bharat, inspired by PM Modi vision," Indian Defence Minister Rajnath Singh wrote on "X".
The Ministry of Defence (MoD) continues to receive the highest allocation among the ministries. The budgetary allocation to Defence for 2024-25 financial year is higher than (approx.) one lakh crore (18.35%) over the allocation for the 2022-23 fiscal and 4.72% more than the allocation for the 2023-24 fiscal.