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Defence budget sees hike of around six percent

Wednesday - February 1, 2017 9:36 pm , Category : BUDGET 2017

New Delhi: Defence allocation saw a hike in the Union Budget 2017-18, with government earmarking Rs 2,74,114 crore ($40,650 million) for defence, a hike of around 5.6 percent over last year's allocation.

The allocation for 2016-17 was as per the revised estimates, leaving aside pensions, totalling Rs 2,59,479 crore.

The amount allocated for defence pensions is Rs 85,740.00 crore for 2017-18, around 4 percent more than last year.

The allocation for this year is approximately 12 percent of the total budget allocation of Rs 21.47 lakh crore. Adding the amount allocated for pensions, the total allocation for defence comes at around 16 percent of the total budget outlay.

"For defence expenditure excluding pensions, I have provided a sum of Rs 2,74,114 crore including Rs 86,488 crore for defence capital," Jaitley said delivering his Budget speech.

The capital expenditure, which is Rs 86,488 crore, is the fund that will be utilised for modernisation.

Of the total amount, Rs 172,773.89 crore have been allocated for revenue expenditure which includes expenditures on salaries and other expenses required to carry on daily tasks.

To reduce the grievances of defence pensioners, Jaitley, announcing creation of web based interactive pension distribution system for defence pensioners, said: "This system will receive pension proposals and make payment centrally. This will reduce the grievance of the defence pensioners."

To end the hassle of booking railway tickets for service personnel, he announced an online tickets booking system. "They (the soldiers) do not have to face the hassle of standing in the queues with the railway warrant," he said.

Defence allocations saw an increase of around 10 percent in the budgets of 2016-17, and 2015-16 as well.

In 2015-16, the allocation for defence, apart from pensions was Rs. 2,46,727 crore.-IANS
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