Suraksha Naivedyam Kosh News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Even as Finance Minister, Nirmala Sitharaman, unveiled India’s Union Budget for the financial year (FY) 2021-2022 in Parliament on Feb 1, there was no statement on the allocation of the defence budget, the absence of which was prominently noticeable. A thorough review of it is thus merited.
At INR 4,78,195.62 crores, the Ministry of Defence’s budget estimate for FY 2021-2022 rose by a nominal 1.4%; though in light of the pandemic-induced economic downturn and healthcare expenditure, emergency defence procurement amounting to INR 20,776 crores that India has had to make in the face of an increasingly belligerent and assertive China, and the absence of any increase in taxes or the imposition of a COVID cess, even such a bare increase should not be judged too harshly. On the contrary, defence spending stands at 13.7% of the total budget and incorporates many noteworthy changes that indicate a much-needed course correction towards a more efficient use of finances. While the bu ....

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