NEW DELHI– On Monday the Defense Ministry told the Parliament that – “The Indian Armed Forces got Rs. 1.24 lakh crore less than their expectations for the 2021-2022 budget.
The overall budgetary requirement was being projected around Rs. 4,49,508 crore stated by the joint decision by the Army, IAF, and join staff, and presently, it’s only allocated about Rs. 3,24,656 crore, stated by defense minister “Shripad Naik” in a written form in the Rajya Sabha session.
The segmentation of the budget was being done like, 15-lakh strong armed forces were allocated Rs. 1,23,000 crore under the capital outlay. It means for military modernization and advancement, whereas they had projected the need of Rs. 1,99,553 crore.
Meanwhile, Naik listed out some of the shortfalls since 2014-15 and said the finance ministry’s issuances are not as per protected needs made by the armed forces. And even additional funds are sought during the financial year on the pace of expenditure, pending liabilities, and more.
Naik added that- “if obligatory, re-prioritization is handled to ensure that acute and reproving potential acquired without any settlement to operational preparedness of the defense an armed services.
Also, reports say, India spent an extra unbudgeted cost of Rs. 20,776 crore on emergency arms procurements especially on the northern borders namely Pangong Tso, Ladakh.
Lastly, the all-inclusive defense budget for the current year of 2021-2022 was raised by a meager sum to around Rs. 4,78,196 crore from the 2020’s budget allocation of Rs. 4,71,378 crore. It is somewhat like a mere raise of 1.4%. Instead, the best part is that capital outlay has been hiked by almost 19% to Rs. 1,35,061 crore as compared to last year of Rs. 1,13,734.
Note: This news is based on millions of articles over the internet, Global Business Line does not take any responsibility for the facts and information mentioned in this news article.
