The Sashakt Defence initiative is charting a robust path towards strength and readiness with a substantial allocation of Rs 6.21 lakh crore in the Defence budget for the fiscal year 2024-25. This allocation reflects a strategic distribution, with 27.67% directed towards capital expenditure and 14.82% for revenue expenditure.
The allocation for the Armed Forces’ revenue expenditure, excluding salaries, stands at Rs 92,088 crore, marking a 48% increase from the budgetary allocation of the previous fiscal year. This funding aims to ensure optimal maintenance of platforms, including aircraft and ships, procurement of ammunition, resource mobility, and day-to-day operational expenses, reinforcing the forces’ preparedness for any unforeseen events.
The Defence Pension Budget has witnessed a significant increase, reaching Rs 1.41 lakh crore, a 2.17% rise from the previous fiscal year. This allocation is crucial for supporting approximately 32 lakh pensioners through various disbursing authorities, including the SPARSH system.
Another key aspect is the unprecedented allocation to the Ex-Servicemen Welfare Scheme (ECHS), totalling Rs 6,968 crore for FY 2024-25. This allocation, 28% higher than the previous fiscal year, demonstrates the government’s commitment to providing enhanced healthcare facilities to veterans. Additionally, the allocation takes into account the medical treatment-related expenditure during the COVID period, aligning with the government’s resolve to ensure the well-being of ex-servicemen, war veterans, Veer Naris, and their families.
Addressing the need for improved border infrastructure, the Capital Budget allocation for the Border Roads Organisation has been increased to Rs 6,500 crore, reflecting a 30% rise from the previous fiscal year and a substantial 160% increase over the allocation of FY 2021-22. This move underscores the government’s dedication to enhancing both strategic and socio-economic development in border areas.
The Indian Coast Guard (ICG) receives a boost with an allocation of Rs 7,651.80 crore for FY 2024-25, a 6.31% increase from the previous fiscal year. Notably, Rs 3,500 crore is designated for capital expenditure, enhancing the ICG’s capabilities to address emerging challenges in maritime security and provide humanitarian assistance.
In a bid to promote self-reliance in Defence technology and manufacturing, the Defence Research and Development Organisation (DRDO) sees a budgetary increase to Rs 23,855 crore, with a major share allocated to capital expenditure. This aims to strengthen DRDO’s capabilities in developing new technologies, emphasizing fundamental research and collaboration with private entities through the Development-cum-production partner model.
Raksha Mantri Shri Rajnath Singh commended Finance Minister Smt Nirmala Sitharaman for presenting an ‘Interim Budget’ aligned with the vision of a confident, strong, and self-reliant India. The budget not only addresses Defence requirements but also supports economic transformation, infrastructure development, manufacturing, housing, and technology, setting the stage for unprecedented growth over the next five years. The substantial increase in capital expenditure outlay is hailed as a massive push towards realizing India’s goal of becoming a five trillion-dollar economy by 2027.