Defence Ministry allocated ₹5.94 lakh crore in Budget 2023
1 min read . Updated: 01 Feb 2023, 02:23 PM IST
PremiumIn the budget, a total of ₹1.62 lakh crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
The central government has increased the defence ministry budget from the previous year's ₹5.25 lakh crore to ₹5.94 lakh crore this year, Finance Minister Nirmala Sitharaman made the announcement while presenting the budget 2023 in Parliament on Wednesday.
In the budget, a total of ₹1.62 lakh crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
For 2022-23, the budgetary allocation for capital outlay was ₹1.52 lakh crore but the revised estimate showed the expenditure at ₹1.50 lakh crore.
According to 2023-24 budget documents, an allocation of ₹2,70,120 crore has been made for revenue expenditure that includes expenses on payment of salaries and maintenance of establishments.
The budgetary allocation of revenue expenditure in 2022-23 was ₹2,39,000 crore.
In the budget for 2023-24, the capital outlay for the Ministry of Defence (Civil) has been pegged at ₹8,774 crore while an amount of ₹13,837 crore has been set aside under capital outlay.
A separate amount of ₹1,38,205 crore has been allocated for defence pensions. The total revenue expenditure including the pension outlay has been estimated at ₹4,22,162 crore.
The budget documents stated that the total size of the defence budget is ₹5,93,537.64 crore.
(With PTI inputs)
