Increase in Indian Navy’s budget aims at enhancing fleet to deter Chinese Navy expansion
India Today
The capital budget of the Navy meant for buying new platforms and equipment has gone by nearly 45%. The allocation for ships and equipment alone is Rs 35,452 crore for 2022-23 compared to 21,000 crore last year.
The bumper budget allocation for the Indian Navy will allow it to modernise its existing ships and submarines and also enhance its fleet in wake of increasing Chinese forays in the Indian Ocean Region (IOR) and China ramping up its naval reach.
While the capital budget of the Navy meant for buying new platforms and equipment has gone by nearly 45%, the allocation for ships and equipment alone is Rs 35,452 crore for 2022-23 compared to 21,000 crore last year. This means, a whopping 75% of the capital outlay has been earmarked for its fleet, which includes ships, submarines and other equipment.
On the other hand, the Air Force’s capital expenditure has increased by only 4.4% and the Army has faced a cut of 12%.
The budget documents show, the Indian Army ended up spending Rs 11,104 crore less than its budget allocation for capital acquisitions for 2021-22 while the Air Force spent Rs 1,383 less than what it was allocated last year. However, the Navy, on the other hand, shot up its original allocation and spent Rs. 12,767.99 crore extra on critical acquisitions in the last fiscal year.
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There has been a thrust on maritime security in the wake of the current scenario and threat perception in the Indian Ocean Region. It is aimed at enhancing its reach and firepower as China continues to maintain an aggressive posture in the region.
"This increase is aimed at acquisition of new platforms, creation of operational and strategic infrastructure, bridging of critical capability gaps and building a credible maritime force for the future,” the Defence Ministry said in a statement.