Defence gets Rs 203,672 crore in Budget 2013-14
Welcoming the allocation, Defence Minister AK Antony told mediapersons, "Taking into account the difficult economic situation both at home and abroad, the finance minister has done a good job. The measures that he has outlined for the rejuvenation of the economy while ensuring inclusive growth are indeed commendable."
The Defence budget allocation accounts for 12.23% (approx) of the total Central Government expenditure for the year 2013-14. The allocation of Rs 2,03,672 crore represents a growth of 5.31% over Budget Estimates of Rs1,93,407 crore for the financial year 2012-13 and 14.10% growth over the Revised Estimates of Rs.1,78,504 crore for the same year.
Out of Rs 2,03,672 crore allocated for the financial year 2013-14, Rs 1,16,931 crore has been allocated for Revenue (Net) expenditure and Rs 86,741 crores for capital expenditure, which includes modernisation related expenditure. This represents a growth of 2.73% and 9.00% respectively over the Revenue and Capital allocation in BE 2012-13. The Defence outlay constitutes 1.79% of the GDP (esimated to be Rs113,71,886 crore). India has been spending less than 2 % of its GDP on national defence for quite some time. This year's budget has reduced the allocations further from 1.82 %to 1.73% of its GDP.
Security experts like Deba Mohanty, Chairman and CEO, INDICIA Research & Advisory opine, "Given the larger macro-economic conditions, resources allocated
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