Thursday, February 28, 2013

Breaking !Finance Minister on defense budget

Neelam Mathews
Feb 28, 2013

At Aero India when AerospaceDiary asked the first question at the Minister of Defense press conference on the forthcoming budget , we were told the budget would be slashed.. India's Defense now gets Rs 203,672 crores' as against last year's Rs 1.95 crores, an increase of approx 4.5% . Of the total defense outlay for 2013-14,Rs 86,741 crore will be for capital expenditure. In any case the rupee depreciation last year actually shrank the budget! So how much of this is an increase, needs to be seen.

Finance Minister added: "The minister of defense has been understanding and I have assured him constraints will not come into the way (in case money is urgently needed). 

"Despite our constraints we must find funds for science and technology, space and nuclear science," which have been given a substantial Rs  6780crore. Of this Rs 5600 cr. is for the ministry of space.

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