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The defence budget of India was increased to ₹ 621,940 crore (US$72 billion) in the 2024-2025 union budget from ₹ 593,538 crore (US$69 billion) during last year. This year’s defence budget accounts for 1.89% of the country’s projected gross domestic product (GDP) for 2024-25. [15]
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
The 2024 Interim-Union Budget of India [1] provides comprehensive information regarding the projected revenue and government spending for the fiscal year 2024–25, commencing on 1 April 2024 and concluding on 31st March 2025. [2] [3] [4]
The Department of Defence, headed by the Defence Secretary, the department deals with the defence of India including defence policy, preparation for defence, acts conducive to prosecution of war, the Reserves of the Army, Navy and Air Force, Defence Accounts, Indian Coast Guard, Border Roads Organisation, capital acquisitions for defence and ...
For the first seven months of fiscal year 2024, which began last October, net interest payments totaled $514 billion, outpacing defense by $20 billion. Budget analysts think that trend will ...
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
The Defence Planning Committee was notified by the Ministry of Defence (MoD) in April 2018, the National Security Adviser (NSA) was appointed as the chairperson of the committee, with the chairperson, Foreign Secretary, Defence Secretary, Chief of Defence Staff, Chief of the Army Staff, Chief of the Air Staff, Chief of the Naval Staff, and expenditure secretaries of Ministry of Finance being ...
The total budget sanctioned for the Indian military for the financial year 2021 is ₹ 4.78 lakh crore (equivalent to ₹ 5.6 trillion or US$65 billion in 2023). [3] [4] It has the third largest annual defence budget behind USA (US$732 billion) and China (US$261 billion). It is the second largest defence importer behind Saudi Arabia making up 9 ...