Defence gets Rs.94,000 crore for hardware
Two defence industrial corridors proposed
India has raised its defence budget to Rs.2.95 lakh crore, about Rs.94,000 crore whic if for purchase of military hardware — artillery guns, warships and fighter aircraft.
Tabling the budget on 1 Feb 2018, Finance Minister Arun Jaitley proposed setting up of two defence industrial corridors while coming out with a new defence production policy,
The FY19 budget has Rs.99,563.86 crore for defence modernisation.
Defence Ministry’s total allocation (without pension) in 2018-19 is Rs.2,95,511 crore, Rs. 16,503 crore more than last fiscal’s revised budgetary estimate.
On new infrastructure, Jaitley has proposed construction of a tunnel under the 13,700 ft Sela pass that connects Buddhist town of Tawang with Guwahati. fii-news.com