Budget 2023 | ₹5.94 lakh crore allocated to Defence Ministry
The Hindu
This is an increase from last year's allocation of ₹5.25 lakh crore
The defence budget was increased to ₹5.94 lakh crore for 2023-24 from last year's allocation of ₹5.25 lakh crore.
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman on February 1, a total of ₹ 1.62 lakh crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
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For 2022-23, the budgetary allocation for capital outlay was ₹1.52 lakh crore but the revised estimate showed the expenditure at ₹1.50 lakh crore.
According to 2023-24 Budget documents, an allocation of ₹Rs 2,70,120 crore has been made for revenue expenditure that includes expenses on payment of salaries and maintenance of establishments.
The budgetary allocation of revenue expenditure in 2022-23 was ₹2,39,000 crore.
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