Rs 99223 Cr earmarked for defence domestic industry in FY 2023-24

In line with Government of India initiative of ‘Aatmanirbhar Bharat’ and to promote self-reliance in defence sector, funds under Modernisation Budget (Capital Acquisition) for Financial Year 2023-24 has been earmarked in the ratio of 75:25, where 75% i.e. Rs 99,223.03 crore is for procurement through Domestic sources and 25% i.e. Rs 33,078.24 crore is for Foreign Procurement. The details…

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Resource Allocation for Indian Armed Forces: An Update

There is no meagre resource allocation for defence modernisation and allocation for modernisation under total Capital Outlay for defence services has gone up from Rs 80,959.08 crore in FY 2019-20 to Rs 1,32,301.27 crore in FY 2023-24. The projected and allocated funds under Capital Acquisition (Modernisation Budget) in BE 2023-24 are as follows: (Rs in…

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