Budget 2021: 4.78 lakh crore allocated to Defence Ministry; Rajnath Singh thanks PM Modi, FM Sitharaman
Finance Minister Nirmala Sitharaman on Monday announced an allocation of Rs 4,78,195.62 crore for the Defence sector for 2021-22 as against last year’s Rs 4,71,378 crore.
On Monday, Defence Minister Rajnath Singh thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for increasing the defence budget to Rs 4.78 lakh crore. He also mentioned that the defence budget for 2021-22, is the 'highest in 15 years'.
Amid tensions with China, FM Sitharaman on Monday announced an allocation of Rs 4,78,195.62 crore for the Defence sector for 2021-22 as against last year’s Rs 4,71,378 crore (including Defence Pension).
In his tweet, the Defence Minister said, “I specially thank PM& FM for increasing the defence budget to 4.78 lakh cr for FY21-22 which includes capital expenditure worth Rs 1.35 lakh crore. It is nearly 19 per cent increase in Defence capital expenditure. This is highest ever increase in capital outlay for defence in 15yrs.”
In a series of tweets, he further added, “Several new policies & programmes to support India’s farmers, agriculture, infrastructure and reinvigoration of Human Resource have also been announced. I am glad that the Budget has proposed opening of 100 new Sainik Schools in the country.” As of now, there are over 25 functional Sainik Schools in India. These schools aim to prepare the students to lead as officers in the Defence Services of the country.
According to reports, the modernisation fund for the armed forces has gone up from Rs 1,13,734, last year, to Rs 1,35,060 for the financial year 2021-22. In 2020-21, the three major defence forces were also given emergency procurement powers due to the border crisis along the Line of Actual Control (LAC).
Particularly applauding the Budget, Rajnath Singh tweeted, “This Budget has set the highest ever capital expenditure target in the history of Independent India by underling funds for capex worth Rs 5.54 lakh crore. This capex push will set the ball rolling for making India a five trillion dollar economy. #AatmanirbharBharatKaBudget”.