In­dia’s Quest for a Strate­gic Mar­itime Reach

Finance Min­is­ter arun Jait­ley has an­nounced a de­fence al­lo­ca­tion of 2,58,589.3 crore (about $38 bil­lion) in the bud­get 2016-17 which is 1.47 per cent of the GDP

SP's NavalForces - - FRONT PAGE - LT GENERAL NARESH CHAND (RETD)

The Finance MIN­IS­TER'S BUD­GET speech has al­ways high­lighted the al­lo­ca­tion for the de­fence forces with the cus­tom­ary clos­ing re­mark that if ad­di­tional funds are re­quired, they will be met. how­ever this year the bud­get speech does not in­clude any ref­er­ence to the al­lo­ca­tion for de­fence and the word de­fence is used only five times. in fact the bur­den of sev­enth Pay com­mis­sion and One rank One Pen­sion (OROP) has been high­lighted. it is al­to­gether a dif­fer­ent mat­ter that the Min­istry of de­fence can rarely spend all the al­lo­cated funds and a por­tion has to be sur­ren­dered. From the cap­i­tal bud­get about ` 11,595 crore has been not been spent which is equal to 13.4 per cent. This could be utilised to boost pop­u­lar schemes which could give ad­van­tage to the gov­ern­ment as five states are go­ing for elec­tion this year. The gov­ern­ment also con­sid­ers the de­fence man­u­fac­ture as a key player to boost Make in in­dia and ac­cord­ingly changes in cus­toms and ex­cise duty rates have been planned on cer­tain in­puts to re­duce costs and im­prove com­pet­i­tive­ness of do­mes­tic in­dus­try in sec­tors like de­fence pro­duc­tion and some other sec­tors.

De­fence Bud­get Al­lo­ca­tions

Finance Min­is­ter arun Jait­ley has an­nounced a de­fence al­lo­ca­tion of ` 2,58,589.3 crore (about $38 bil­lion) in the bud­get 2016 which is 1.47 per cent of the GDP. This fig­ure in­cludes rev­enue and cap­i­tal ex­pen­di­ture, net of re­cov­er­ies and rev­enue re­ceipts but ex­cludes the de­fence pen­sions.

Rev­enue Bud­get

The to­tal rev­enue al­lo­ca­tion ` 1,43,869.46 crore (about $21.15 bil­lion) which is about 6 per cent more than the re­vised es­ti­mates of ` 1,25,808.67 crore of 2015-16.

Army. a to­tal al­lo­ca­tion of ` 1,02,788.84 crore is shown which in­cludes other rev­enue ex­pen­di­ture like pay and al­lowances of civil­ians, trans­porta­tion, stores, works, etc. Out of this pay

PHO­TO­GRAPH: In­dian Navy

Anti-sub­ma­rine war­fare corvette of Project-28 Kavaratti

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.