Defence Budget
Finance Minister Nirmala Sitharaman allocated Rs 6.81 lakh crore for defence in FY25, with a focus on 'Make in India' and 'Aatmanirbharta'.
In 2024, India had reached its highest ever defence production value at Rs 1.26 lakh crore and exports at Rs 21,083 crore.
However, only 27.66% of the budget went to capital expenditure, highlighting the need for increased R&D investment to stay competitive.
In 2024, significant strides were made towards achieving self-reliance, with the Ministry of Defence recording its highest-ever indigenous defence production value of Rs 1.26 lakh crore and defence exports reaching Rs 21,083 crore.
In her eighth consecutive budget speech, Finance Minister Nirmala Sitharaman allocated Rs 6,81,210 lakh crore towards defence expenditure for FY25.
This is higher than Rs 6.21 lakh crore announced in the first full budget of Modi 3.0 last year in July.
The Ministry of Defence receives the largest allocation, totaling Rs 681,210.27 crore, with a significant portion (Rs 180,000 crore) dedicated to Capital Outlay on Defence Services.
The Union Budget since last year intensified India’s focus on "Make in India" and "Aatmanirbharta" in the defence sector.
Notably, only 27.66 per cent of the defence budget was allocated to capital expenditure, leaving the majority of it for personnel expenses.
India's annual Budget of the Union Govt is a financial statement about the country’s income, expenditures and planned borrowing.
It can also have an impact on the fiscal deficit – which in turn affects the country’s monetary supply and the interest rates
The Finance Minister announced plans for the establishment of five national Centres of Excellence for AI in Education, developed through global partnerships.
The move aligns with the government’s vision to integrate AI into academic and research institutions, particularly the Indian Institutes of Technology (IITs), to foster innovation and technological advancements.
Significant changes in market include reduced duties on cancer drugs, and certain minerals.
However, the prices of telecom equipment are set to rise.
Everyone's praising you, Budget is very good: PM praises Nirmala Sitharaman
The Prime Minister walked up to the bench where Nirmala Sitharaman was seated and expressed his gratitude for presenting her eighth and the Modi 3.0 government's first Budget today
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