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The IAF got the lion’s share of the Defence budget which got a hike of six per cent for the next fiscal with Finance Minister Arun Jaitley allocating Rs 2,74,114.72 crore for 2017-18 as against Rs 2.58 crore last fiscal.
The Air Force got Rs 33,555.62 crores under capital head for acquiring Rafale jets besides other ongoing deals like payment for C-17 transport planes. The 36 Rafale jet deal inked last year is worth over 7.87 billion Euros and India has already paid the first tranche of Rs 10,000 crore.
An amount of Rs 86,488.01 crore has been earmarked as capital outlay to sustain the ongoing modernisation and acquisition plans of the armed forces. The revenue budget was also increased to Rs 1,72,773.89 crores to meet the operational costs including fuel consumption, training and other necessary expenditure including salaries. The figure stood at Rs 1,49,051.34 crores last fiscal. Rs 6,886 crore from last fiscal’s capital outlay of Rs 78,586.68 crores remained unspent.
The Finance Minister hiked the capital outlay by more than ten per cent for 2017-18 to enable the armed forces to upgrade and procure various weapon platforms including submarines, artillery guns, tanks and fighter jets besides other critical projects like ongoing raising of the Mountain Strike Corps to face any challenge from China in the likelihood of war in the mountains in the east and west.
“Rs 2,74,114 crore is allocated for defence expenditure, excluding pension. This includes Rs 86,000 crores for defence capital,” Jaitley said while presenting the Union Budget. Welcoming the allocation, Minister of State for Defence Subhash Bhamre tweeted, “9.3% increase in capital outlay for Defence Ministry. Up to Rs 86,000 cr from Rs 78,000 cr last year. Welcome move: @arunjaitley”.
As regards capital outlay for the other two Services, the Army got Rs 25,175.63 crore as compared to Rs 23,709.17 crore last financial year. The Navy was allotted Rs 19,348.16 crore as against Rs 19,596.28 crore in the previous fiscal. Rashtriya Rifles, the counter insurgency force of the Army tackling terrorism in Jammu and Kashmir, was allotted Rs 111.64 crore.
http://www.defencenews.in/article/I...orp-well-funded-in-Defence-Budget-2017-250237
The Air Force got Rs 33,555.62 crores under capital head for acquiring Rafale jets besides other ongoing deals like payment for C-17 transport planes. The 36 Rafale jet deal inked last year is worth over 7.87 billion Euros and India has already paid the first tranche of Rs 10,000 crore.
An amount of Rs 86,488.01 crore has been earmarked as capital outlay to sustain the ongoing modernisation and acquisition plans of the armed forces. The revenue budget was also increased to Rs 1,72,773.89 crores to meet the operational costs including fuel consumption, training and other necessary expenditure including salaries. The figure stood at Rs 1,49,051.34 crores last fiscal. Rs 6,886 crore from last fiscal’s capital outlay of Rs 78,586.68 crores remained unspent.
The Finance Minister hiked the capital outlay by more than ten per cent for 2017-18 to enable the armed forces to upgrade and procure various weapon platforms including submarines, artillery guns, tanks and fighter jets besides other critical projects like ongoing raising of the Mountain Strike Corps to face any challenge from China in the likelihood of war in the mountains in the east and west.
“Rs 2,74,114 crore is allocated for defence expenditure, excluding pension. This includes Rs 86,000 crores for defence capital,” Jaitley said while presenting the Union Budget. Welcoming the allocation, Minister of State for Defence Subhash Bhamre tweeted, “9.3% increase in capital outlay for Defence Ministry. Up to Rs 86,000 cr from Rs 78,000 cr last year. Welcome move: @arunjaitley”.
As regards capital outlay for the other two Services, the Army got Rs 25,175.63 crore as compared to Rs 23,709.17 crore last financial year. The Navy was allotted Rs 19,348.16 crore as against Rs 19,596.28 crore in the previous fiscal. Rashtriya Rifles, the counter insurgency force of the Army tackling terrorism in Jammu and Kashmir, was allotted Rs 111.64 crore.
http://www.defencenews.in/article/I...orp-well-funded-in-Defence-Budget-2017-250237
