India Announces Defense Budget
News Aerospace Daily & Defense Report Mar 01 , 2010 , p. 14 Neelam Mathews NEW DELHI — India’s defense expenditure has been raised four percent to $31.8 billion for 2010-11. The budget was presented by Finance Minister Pranab Mukherjee Feb. 26 in parliament. Last year, the government provided a steep hike of about 34 percent for defense. Mukherjee said that considering the importance of defense, more funds would be provided as requirements dictate. “Secure borders and security of life and property fosters development,” he said. “I propose to increase the allocation for defense. Needless to say, any additional requirement for the security of the nation will be provided for.” At the recent land and naval DefExpo 2010 show, Defense Minister A.K. Antony said that India’s defense expenditure, which is 2.5 percent of its gross domestic product (GDP), would be increased. This latest allocation continues to be around 2.5 percent of the GDP. Three years ago, the defense budget was at $20.11...