Sitharaman Allocated Rs 4,78 Lakh Crore In Defense Budget
Sitharaman allocated Rs 4.78 lakh crore in the defense budget, the highest in 15 years: Defense Budget 2021.
Defense Minister Rajnath Singh thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for increasing the defense budget to Rs 4.78 lakh crore for FY 2021-22.
Rajnath Singh described it as the biggest increase in capital outlay for defense in 15 years.
Finance Minister Nirmala Sitharaman on Monday announced an allocation of Rs 4,78,195.62 crore for the defense sector for 2021-22 as against Rs 4,71,378 crore (including defense pension) last year.
Excluding pension, it is estimated at Rs 3.62 lakh crore from Rs 3.37 lakh crore in the previous year.
The Modernization Fund for the Armed Forces has increased from Rs 1,13,734 in the previous year to Rs 1,35,060 crore for FY 2021-22.
According to the information, China’s annual expenditure on defense is about $ 261 billion i.e. about 19 Lakh crores. At the same time, India spends only 71 billion dollars i.e. about 5 lakh crore rupees on the army.
In order to make the security of the country more robust in the budget of 2020-21, the Finance Minister had increased the budget by 6 percent to the defense sector.
It was increased from 3.18 lakh crore in 2019-20 to 3.37 lakh crore in 2020-21.
Explain that the army was allocated Rs 1,10,734 crore for modernization of the army and purchase of new and modern weapons. The defense pension budget was also increased last year.
Be aware that India’s defense budget is much less than that of China. However, defense experts have been demanding that the defense budget be raised to three percent of GDP every time.
Explain that the US is at the top of the list of countries that spend the most in defense. Then comes China’s number.
Union Budget 2021 For Gujarat: Ship Recycling To Start In Gujarat, Rs 1624 Crore Given
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2021–22 (Union Budget 2021). Work will be done to promote merchant ships in India, initially Rs 1624 crore has been provided for this. Apart from this, work will be done on recycling the ship through the plant in Gujarat.
