Overview of India's Defence Budget for 2024-25

Tuesday, 23 July 2024, 22:10

India's total defence budget has been set at approximately ₹6.22 lakh crores for the upcoming fiscal year, which marks a hike of 4.79% compared to the ₹5.94 lakh crore budget from the previous year. Of this allocation, ₹1.41 lakh crores are designated for defence pensions. Notably, this budget constitutes around 12.9% of the overall budget for 2024-25, highlighting the government's continued investment in national security. Overall, while the increase is modest, it reflects the ongoing priority given to modernising defence capabilities.
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Overview of India's Defence Budget for 2024-25

India's Defence Budget Overview

In the recent budget announcement, India's total defence budget for 2024-25 has been fixed at ₹6.22 lakh crores.

Key Highlights

  • Overall increase: The budget shows a hike of 4.79% from last year’s ₹5.94 lakh crore allocation.
  • Defence pensions: A substantial portion of the budget, ₹1.41 lakh crores, is earmarked for defence pensions.
  • Percentage of total budget: The defence allocation represents approximately 12.9% of India's total budget outlay for 2024-25.

Conclusion

In conclusion, while the increase in the modernisation allocation may be minor, the overall commitment of ₹6.22 lakh crores demonstrates the government's focus on bolstering its defence framework and addressing contemporary security challenges.


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.


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