Union Budget 2022 | Marginal hike in defence budget, emphasis on Make in India
The Hindu
Finance Minister announces steps to boost domestic defence manufacturing, reduce imports
In a further push for Make in India in defence,the Union government on Tuesday announced additional measures to boost domestic manufacturing and reduce imports. The total allocation for defence in the Budget has gone up marginally to ₹5.25 lakh crore.This isup by 4.43% higher than the revised estimates of last year and 9.8% higher over the Budget estimates of last year.
Finance Minister Nirmala Sitharaman announced that defenceresearch anddevelopment (R&D) would be openedupfor industry, start-ups and academia with 25% of R&D budget earmarked for them.
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