Budget 2024: Defense Ministry receives budget allocation of ₹6.22 lakh crore

The government has allocated ₹6.22 lakh crore to the Ministry of Defence, with a major focus on capital procurement worth ₹1.72 lakh crore, the largest budgetary allocation for defense in recent history. The capital outlay aims to enhance the capabilities of the armed forces through the acquisition of advanced weapons systems, including fighter aircraft, ships, submarines, drones and specialized vehicles.

Specific purchasing plans

Planned purchases include:

• Aircraft modernization: Su 30MKI fleet upgrades and additional acquisition of LCA Mk1A and C-295 transport aircraft.
• Naval Expansion: Contract planned for three new submarines from Mazagon Dockyard Limited and 26 Rafale Marines from France.
• Drone acquisition: United States long-range drones.

Main schemes and innovations

Major assignments include:

• Agneepath Scheme: To attract and retain armed forces personnel, increased from ₹4,266 crore to ₹5,979 crore.
• Latest Defense Projects: Rs 400 crore has been allocated to the ADITI scheme to support the development of innovative technology, covering 50% of the specific project budget.
  infrastructure development

The Border Roads Organization (BRO) secured a 30% budget increase to improve border infrastructure, including the following projects:

Development of Nyoma Airfield (Ladakh)

• Shinku La Tunnel (Himachal Pradesh)
• Nechiphu Tunnel (Arunachal Pradesh)

This comprehensive budget places a strategic focus on modernizing defense capabilities and improving national security infrastructure.

More about the defense budget

Many nations spend a large portion of their budget on the military; For example, the United States spends more than three percent of its GDP on defense, while many NATO nations strive to spend two percent. Eastern European countries have seen the largest increases in their military budgets in recent years, which is a direct result of the geopolitical tensions present in those regions. Although Japan’s constitution places restrictions on the country’s military budget, the country is one of the biggest spenders in Asia. Additionally, many countries’ defense budgets are financed through non-traditional methods, such as arms exports or sales of military equipment to other countries.

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