Sitharaman allocates Rs 4.78 lakh crore to defence budget for 2021-22, 'highest in 15 years'
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Updated: Feb 01, 2021 14:46 IST
New Delhi [India], February 1 (ANI): Defence Minister Rajnath Singh thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for increasing the defence budget to Rs 4.78 lakh crore for the financial year 2021-22 and termed it as the highest ever increase in capital outlay for defence in 15 years.
Finance Minister Nirmala Sitharaman on Monday annouced an allocation of Rs 4,78,195.62 crore for the defence sector for 2021-22 as against last year's Rs 4,71,378 crore (including Defence Pension). Excluding pensions, it is pegged at Rs 3.62 lakh crore from last year's Rs 3.37 lakh crore.