The Union finance minister, Nirmala Sitharaman, presented her 7th straight budget on July 23. The budget was 80 minutes long and the FM focused primarily on the themes of Youth, Skilling and Employment.
Since then, budget details have emerged and in terms of ministerial expenditure, the Defence Ministry, headed by Defence Minister Rajnath Singh, has received the largest chunk of the overall allocation.
According to government data, the Defence Ministry has received a cumulative amount of Rs 6,21,941 crore (budgeted for 2024–25), which was greater than the budgeted sum for 2023–24, when the budget earmarked Rs 5,93,538 crore.
In comparison to the actuals for 2023–24, when the ministry got Rs 6,09,799 crore, there is a 2.0 per cent rise in the figures.
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In addition, ostensibly underscoring the importance of security and law enforcement, the Home Affairs Ministry, headed by senior BJP leader Amit Shah, saw a rise in its allocation.
The budgeted amount for the ministry for 2024–25 stood at Rs 2,19,643 crore; this figure is higher when compared to the actuals of the previous fiscal year. In 2023–24, the actuals stood at Rs 1,96,886 crore, marking a 11.6 per cent rise. In 2023–24, the budgeted amount for 2023-24 was Rs 1,96,035 crore, marking a difference of 12.04 per cent.
Industry leaders have welcomed the allocation, according to statement obtained by PTI, Ashish Saraf, vice president and country director, Thales in India, applauded the government and Union Finance Minister Nirmala Sitharaman.
Saraf even called the decision a "landmark allocation" for defence in the budget for 2024-25. He said that it "reflects a strong commitment to national security and technological advancement".
In addition, ostensibly underscoring the importance of security and law enforcement, the Home Affairs Ministry, headed by senior BJP leader Amit Shah, saw a rise in its allocation. | ANI
The allocation of Rs 6,21,940.85 crore, representing 12.9 per cent of the total budget, is a "testament to the government's focus on strengthening our defence capabilities", he was quoted as saying in a statement.
According to government data, of all the allocations, defence receives about 8 per cent of the total allocation.
These allocations are being seen as a measure to shore up security and reinvigorate the law enforcement paradigm.
