Interim Budget 2024: Rs 6.21 lakh cr for defence as govt outlines new deep tech plan

Interim Budget 2024: Rs 6.21 lakh cr for defence as govt outlines new deep tech plan

New Delhi: India on Thursday set aside Rs 6.21 lakh crore for defence spending in the interim budget for 2024-25, with the defence ministry saying that the critical sector continues to receive the highest allocation among all ministries. The Finance Minister, Nirmala Sitharaman also announced a new scheme to strengthen deep tech in the defence sector.

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This year’s defence budget accounts for 1.89% of the country’s projected gross domestic product (GDP) for 2024-25. The enhanced capital outlay is aimed at filling critical capability gaps through modernisation and that it will also help boost self-reliance in the sector.

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