Budget 2024 Rajnath Singh Lauds Massive Rs 6.21 Lakh Crore Defence Boost

This large amount, or 12.9% of the government’s whole budget for 2024–2025, is allocated. Rajnath Singh, the minister of defence, pointed out that Rs 1,05,518 crore of 2017 budget is set aside for domestic capital acquisition with the goal of enhancing “Atmanirbharta,” or self-reliance in the defence sector.

Budget 2024 Rajnath Singh Lauds Massive

For the fiscal year 2024–2025, the Indian government has budgeted Rs 6,21,940 crore for defense, an increase above the Rs 5.94 lakh crore budgeted the year before. A capital outlay of Rs 1,72,000 crore has been allocated to the defence sector.

This large amount, or 12.9% of the government’s whole budget for 2024–2025, is allocated. Rajnath Singh, the Minister of Defence, stated that Rs 1,05,518 crore of This fund, dubbed “Atmanirbharta,” is earmarked for domestic capital acquisition with the goal of increasing defense industry self-reliance.

The allocation of Rs 6,21,940.85 crore, which is 12.9% of the total budget, underscores the government’s commitment to strengthening our defense capabilities,” Singh said in a thank you note to Finance Minister Nirmala Sitharaman.

Singh emphasized that the Armed Forces’ capabilities will be improved by the Rs. 1,72,000 crore capital spending. Along with this, he pointed out that financing for border infrastructure has also increased. The Border Roads Organisation (BRO) has seen a 30% rise in funding, increasing their budget to Rs 6,500 crore. It is anticipated that this boost will quicken border area infrastructure development.

Moreover, the iDEX programme, which funds technical solutions from startups, has been given Rs 518 crore. MSMEs and pioneers within the defense sector. The goal of this action is to promote innovation and industry expansion.

The defence budget was initially allocated Rs 6.21 lakh crore for 2024–25 in the interim budget that was tabled on February 1.

Rajnath Singh says, Budget 2024 Rajnath Singh Lauds Massive

Rajnath Singh, the minister of defence, thanked Nirmala Sitharaman, the minister of finance, for giving the defence sector the largest budget. Singh wrote on X, “I am grateful to the Finance Minister for giving the Ministry of Defence the largest budget, which comes to Rs 6,21,940.85 Crore, or 12.9% of the Government of India’s total budget for FY 2024–2025. The Armed Forces’ capabilities would be considerably enhanced by the Rs. 1,72,000 Crore capital outlay.

Singh emphasized that a sum of Rs 1,05,518.43 crore has been set aside for the purchase of domestic capital. It will give Atmanirbharta a big boost. He also mentioned that the BRO has been given Rs 6,500 crore to expedite border infrastructure, a 30% increase in funding for border roads over the previous budget under the capital head. In addition, the iDEX programme has been given Rs 518 Crore to assist innovators, MSMEs, and startups in the defence industry with their technology solutions.

Singh commended Sitharaman in a different tweet for putting forth an excellent full-year budget for FY 2024–2025 and emphasized how it will help create a wealthy and independent “Viksit Bharat.” He stated, “Inspired by PM Narendra Modi’s vision of inclusive and fast-paced development, this budget will accelerate India’s economic transformation.”

The Defence Minister praised the Union Budget, saying, “This Budget is unique in many ways and it has successfully elevated India’s growth trajectory by clearly outlining the NDA Government’s 9 key priorities for all-round and inclusive development.” By 2027, this budget will be essential to turning India’s economy into a five trillion dollar one. It will increase demand, open up new doors for young people, and catapult India’s economy into the international arena. I am grateful to the PM and FM for significantly advancing India’s social and economic progress.

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