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Defence budget hiked 4%

Defence budget hiked 4%
PTI
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First Published: Fri, Feb 26 2010. 03 13 PM IST
Updated: Fri, Feb 26 2010. 03 13 PM IST
New Delhi: The government on Friday allocated Rs1,47,344 crore towards defence in 2010-11 Budget, a paltry 4% increase from last year’s Rs1,41,703 crore.
Of the allocation provided, Rs60,000 crore would go for capital expenditure, finance minister Pranab Mukherjee said presenting the Budget for 2010-11 in the Lok Sabha.
The 4% increase in real terms would amount to only Rs5,641 crore.
Last year, the government had provided a steep hike of about 34% for the defence working out to an increase of Rs36,103 crore.
Mukherjee, however, said considering the importance of defence of the country, more funds would be provided on the basis of requirements in the future.
The defence allocation continues to hover over 2.5% of the GDP, though there have been suggestions to increase it substantially in view of the prevailing security situation.
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First Published: Fri, Feb 26 2010. 03 13 PM IST