Budget LIVE: Defence allocation is Rs 2,46,727 crores, says Jaitley

[Bang Galore]

Why on earth would we want the Rupee to be weaker ?

A stronger Rupee will make Oil Cheaper and will make working as slaves in the Gulf not very profitable. It will boost Industry in India since manufacturing will become cheaper.

It will encourage states to focus more on developing their economy and providing employment in India.

Let rupee dip when possible for India's long-term economic wellbeing: Arvind Subramanian, CEA - The Economic Times

 

[MokshaVimukthi]

Let rupee dip when possible for India's long-term economic wellbeing: Arvind Subramanian, CEA - The Economic Times

Chinese Yuan is stronger than the Rupee yet China beat us in Exports by a considerable margin.

Currency is not the only vehicle for export based economy, an efficient business environment is FAR more important. When we focus on weakening the Rupee, we miss the forest for the trees.

I am not a great fan of economists. I seriously have more faith in Astrologers.

 

[Tshering22]

Now Pakistan will have to increase its defence budget. and they dont have money for it so the katoraa will be out again.

Let's not have a flame war here, man.

It is simply a budgetary announcement. What you talk is true but is not relevant here.

 

[Bang Galore]

I am not a great fan of economists. I seriously have more faith in Astrologers.

Doesn't matter what you believe or who you are a fan of. That statement is from one of the top most officials in the Finance Ministry, effectively suggesting the government's position.

 

[MokshaVimukthi]

Doesn't matter what you believe or who you are a fan of. That statement is from one of the top most officials in the Finance Ministry, effectively suggesting the government's position.

Yes, that is his point of view. There are many others.

This is the same guy who found the govt. estimate on GDP was "Puzzling". Hardly the kind of person to suggest government position.

Let him first be in sync with the govt. before anyone can suggest he speaks for them.

 

[Bang Galore]

Yes, that is his point of view. There are many others.

This is the same guy who found the govt. estimate on GDP was "Puzzling". Hardly the kind of person to suggest government position.

Let him first be in sync with the govt. before anyone can suggest he speaks for them.

Err... maybe you should suggest it to the FM & PM, pointless this.

 

[MokshaVimukthi]

Err... maybe you should suggest it to the FM & PM, pointless this.

You think they don't they read the newspapers ?

Economic Survey 2015: Chief economic adviser Arvind Subramanian says new GDP estimates "puzzling" - Economic Times

 

[sancho]

Limited Rise in India’s Defence Budget 2015 - 16

...The limited rise in the military budget indicates that the shopping list of 126 fighter aircraft from Dassault, 197 light helicopters, 145 Ultra-light Howitzers, 15 Apache attack helicopters and 22 CH-47F Chinook medium lift helicopters is unlikely to materialise soon. Since three-fourth of the total allotted budget is spent on maintaining the world’s third largest standing force. This clearly implies that only a few new weapons will be ordered this year.

Limited Rise in India’s Defence Budget 2015 – 16 » Indian Defence Review

 

[MokshaVimukthi]

Its sad that DRDO budget comes from Defence Budge.

 

[sancho]

Defence Budget 2015-16: The Bad, the Worse and the Good
Vinay Kaushal

March 02, 2015
The Indian Air Force used to have a very competent, business like and unflappable Deputy Chief who, whenever one went to him for a debrief, would say, “Give me the bad news first, the worse next and anybody can handle the good news”.

Financial Indicators
The Bad news The bad news in this year’s defence budget is that it does not recognise that things are not going in the right direction but only the beaten track. The ratio of defence expenditure to GDP has continued to decline over the last 30 years...

...
Conclusion
In an earlier commentary, this author had forecast that “the Budget Estimate for defence is likely to be around Rs. 250,000 crore, with 105,000 crore for Capital Expenditure and 145,000 Crore for Revenue Expenditure.” While the forecast nearly hit the bull’s eye as far as the total is concerned, its projection for Capital expenditure was biased by the hope of ending up at the better end of the continuum of a bad deal.
In his budget speech, the Finance Minister said that “Defence of every square inch of our mother land comes before anything else.” And he stressed on the “Make in India” policy to achieve greater self-sufficiency in the area of “defence equipment, including aircraft”. Adding that the government has been “both transparent and quick” in making defence equipment-related purchase decisions, “thus keeping our defence forces ready for any eventuality”, he stated that he has provided “adequately for the needs of the Armed Forces”. These are good words to hear for a soldier, sailor or air warrior at a lonely desolate outpost. But even as they uphold every word of this speech, they need to draw assurance from the actions and decisions of the political leadership and their military superiors that when the time comes for action, they need not look at the ‘best before date’ on the ammunition or read some special instructions written in fine print on the constraints under which to use the ‘weapon system’.

Defence Budget 2015-16: The Bad, the Worse and the Good | Institute for Defence Studies and Analyses


On a side note, China has just increased their defence budget at about 10%