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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.
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 ...
Finance Minister Nirmala Sitharaman presented the Union Budget in the Lok Sabha on 1 February 2024 following the necessary approval from the President of India. During this presentation, the Finance Minister highlighted the crucial aspects of the document and justified the underlying thought process behind the proposed initiatives.
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]
Authorize a $886 billion spending budget for national defense programs including: [20] [21] A 5.2% pay increase for service members of the armed forces. [20] [21] Procurement of up to 13 Virginia-class submarines. [22] [23] Authorize the sale and transfer of defense articles and services relating to the implementation of the AUKUS partnership ...
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 ...
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 ...
The Parliamentary Standing Committee on Defence (SCOD) is a department related standing committee (DRSC) of selected members of parliament, constituted by the Parliament of India, for the purpose of legislative oversight of the defence policies and decision making of the Ministry of Defence (MOD). It is one of the 24 DRSCs that have been ...