New Delhi: In a boost to Defence sector, the Government on Friday allocated Rs 3.19 lakh crore in 2019-20 as compared to Rs 2.98 lakh cr in the previous year.
"The allocation of Rs 3,18,931.22 cr. represents a growth of 7.93% over Budget estimates (2,95,511.41 Cr.) and 6.87 % over Revised Estimates (Rs. 2,98,418.72 Cr. ), respectively for the financial year 2018-19," the defence ministry said in a series of tweets.
Out of Rs. 3,18,931.22 crore allocated for the financial year 2019-20, Rs 2,10,682.42 crore for Revenue (Net) expenditure and Rs 1,08,248.80 crore for Capital expenditure for the Defence Services and the Organizations/ Departments under Ministry of Defence, it added.
"For Defence Pension, an amount of Rs 1, 12,079.57 crore has been provided in BE 2019-20. Total Defence allocation (Rs 431,010.79 crore) including Defence pension, accounts for 15.47 % of the total Central Government expenditure for the year 2019-20," the ministry added in another tweet.
The amount of Rs 1,08,248.80 crore has been allocated for Capital expenditure, includes modernization related expenditure.
The Capital Allocation of Ministry of Defence under BE 2019-20 is 31.97 per cent of the total Central Government Capital Expenditure, which is Rs 3,38,569 crore.
In a significant development, import of Defence Equipment not manufactured in India has been exempted from Basic Customs Duty. This will have an impact of augmenting the Defence Budget by Rs 25,000 crore on account of savings in expenditure on Customs Duty over the next 5 year, the ministry said in a tweet. (UNI)
