Defence Minister Rajnath Singh on Tuesday thanked Finance Minister Nirmala Sitharaman for giving the highest allocation to the defence sector in the Union Budget 2024-25 .
In a post on X, Rajnath Singh said, “As far as the allocation to the Ministry of Defence is concerned, I thank the Finance Minister for giving the highest allocation to the tune of Rs 6,21,940.85 Crore, which is 12.9 % of the total Budget of GoI for FY 2024-25. The capital outlay of Rs 1,72,000 Crore will further strengthen the capabilities of Armed Forces,”
“Earmarking of Rs, 1,05,518.43 Crore for domestic capital procurement will provide further impetus to Atmanibharta. I am pleased that Border Roads have been given 30% increase in allocation over the last budget under the capital head. This allocation of Rs 6,500 Crore to BRO will further accelerate our Border Infrastructure. To boost the startup ecosystem in Defence Industries, Rs 518 crore has been allocated to the iDEX scheme to fund technological solutions given by startups, MSMEs and innovators,” the Minister added.
In another post, Singh congratulated Sitharaman for presenting a budget that will help realize the goal of a prosperous and self-reliant ‘Viksit Bharat’.
The Defence Minister praised the Budget for its unique approach and clear focus on the nine key priorities for inclusive development. He said that the budget will boost India’s growth, aiding its goal of becoming a five trillion-dollar economy by 2027.
(ANI)