Military budget of India
The military budget of the India is the portion of the overall budget of Union budget of India that is allocated for the funding of the Indian Armed Forces.[1] This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles.
Union Minister for Finance, Arun Jaitley allocated Rs 2.47 lakh crore (equivalent to USD $40 bn) for the development in the army forces marking an raise of around 7 per cent from the last fiscal. [2]
Expenditure
Expenditure (% of GDP)
| Year | Govt. proposed | Expenditure | Difference |
|---|---|---|---|
| 2015 | NDA | 2.3 | 0.3 |
| 2014 | NDA | 2.6 | 0.2 [1] |
| 2013-14 | UPA | 2.4 | 0.1 |
| 2012 | UPA | 2.5 | 0.1 |
| 2011 | UPA | 2.6 | 0.1 |
| 2010 | UPA | 2.7 | 0.2 |
| 2009 | UPA | 2.9 | - |
The above statistics was collected by World Bank up to 2013.[3]
Capital acquisition
| Armed Force | BE 2013-14 (Rs in Cr) | RE 2013-14 (Rs in Cr) | Under/over Spending (Rs in Cr) | Under/over Spending (%) | Interim 2014-15 (Rs in Cr) | % Growth of Interim 2014-15 over BE 2013-14 |
|---|---|---|---|---|---|---|
| Army | 23423.23 | 10871.22 | 2525.82 | 18.95 | 20920.20 | 56.83 |
| Navy | 19972.78 | 19234.31 | 3614.47 | 15.39 | 23020.86 | 1.95 |
| Air Force | 37048.06 | 36016.54 | 1031.52 | 2.78 | 31817.89 | 14.12 |
| Total | 73853.88 | 66682.07 | 7171.81 | 9.71 | 75738.95 | 2.55 |
The above data was published by Institute for Defence Studies and Analyses.[4]
References
- 1 2 "Arms race: India approves defence procurements worth $3.5 bn, says report". The Express Tribune. 20 July 2014. Retrieved 20 July 2014.
- ↑ "Defence Ministry gets Rs 2.47 lakh cr in Union Budget". The Indian Express. 10 July 2014. Retrieved 20 July 2014.
- ↑ "Military expenditure (% of GDP)". worldbank.org. Retrieved 20 July 2014.
- ↑ "India's Interim Defence Budget 2014-15: An Appraisal". idsa.in. Retrieved 20 July 2014.
This article is issued from Wikipedia - version of the 11/26/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.