Indian Defence Budget Boost: ₹1.72 Lakh Crore for Modernization and New Weapon Systems

Tuesday, 23 July 2024, 18:56

The Indian Defence Ministry has earmarked a substantial ₹1.72 lakh crore for the acquisition of advanced weapon systems in the 2023 budget. This budget reflects a total of ₹6.22 lakh crore allocated to the defence sector, underscoring the government's commitment to enhancing military capabilities. Key procurements will include cutting-edge fighter aircraft, state-of-the-art submarines, advanced drones, and tactical vehicles, with an emphasis on modernization and improved border infrastructure.
Economictimes
Indian Defence Budget Boost: ₹1.72 Lakh Crore for Modernization and New Weapon Systems

Overview of the Defence Budget Allocation

The Indian Defence Ministry has recently announced a significant allocation of ₹1.72 lakh crore for capital acquisitions aimed at bolstering the armed forces. This amount is part of a broader budget of ₹6.22 lakh crore dedicated to defence.

Key Areas of Procurement

  • Fighter Aircraft: Enhancing aerial combat capabilities.
  • Submarines: Strengthening naval power.
  • Drones: Expanding surveillance and attack fronts.
  • Vehicles: Upgrading ground mobility.

Focus on Modernization

A significant focus is placed on modernizing the forces and developing border infrastructure, which is crucial for national security. The procurement plan aims to ensure that the military is equipped with the latest technology and systems.

Conclusion

This budget marks a pivotal step towards enhancing India’s defense capabilities, ensuring preparedness, and addressing emerging 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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