Major Allocation to India's Defence Sector in the 2023 Union Budget
Wednesday, 24 July 2024, 01:49
India’s Union Budget 2023: Defence Sector Allocation
The Indian government has unveiled its Union Budget for 2023, with a significant focus on national security.
Record Budget Allocation
- ₹6.22 lakh crore allocated to the defence sector.
- This represents the highest budget allocation for defence in India’s history.
- Aim to strengthen national security and modernize armed forces.
Economic Impact
The budget is expected to boost local manufacturing in the defence industry, which is crucial for the country’s economic growth.
Conclusion
The record allocation of ₹6.22 lakh crore signifies the government’s priorities in enhancing military capabilities and ensuring national defence preparedness.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.