In 15 per cent increase, defence allocation hiked to Rs 5.94 lakh crore in 2023-24 budget

New Delhi. In presenting the union budget for 2023-24, on February 1, Finance Minister Nirmala Sitharaman has increased the defence ministry’s allocation from the previous year’s Rs 5.25 lakh crore to ₹5.94 lakh crore.

In the budget, a total of ₹1.62 lakh crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.

In the previous year, the allocation for capital outlay was Rs1.52 lakh crore but the revised estimate was Rs 1.50 lakh crore.

An an allocation of ₹2,70,120 crore has been made for revenue expenditure which includes expenses on salaries and maintenance of establishments.

The capital outlay for the Ministry of Defence (Civil) has been pegged at ₹8,774 crore while Rs 13,837 crore has been set aside under capital outlay.

While Rs 1,38,205 crore has been allocated for defence pensions, the total revenue expenditure including the pension outlay has been estimated at ₹4,22,162 crore.