INDIA DEFENCE AND SECURITY BUDGET 2013-14: ANALYSIS BEYOND NUMBERS
It was a shocker for the services with a delicate jugglery of numbers. India’s Finance Minister Mr P Chidambaram a veteran of the cabinet holding the portfolio for the third time announced Rs 203672.12 Crore (US $ 37.70 Billion @Rs 54 per USD) for defence services in the Budget for 2013-14. The allocation of Rs 203,672.12 Crore as against BE 2012-13 allocation of Rs. 1, 93,407.29 Crore represents an increase of 5.31%. However this has come against the backdrop of reduction of Rs 14,900 Crore in the BE 2013-14 in the Revised Estimates (RE) to Rs 178504 Crore. A standard phrase, constraints will not come in the way of providing any additional requirement for the security of nation was routinely added. In real terms with declining value of the Indian Rupee, India’s dependence on imports and inflation the overall increase in the defence budget particularly for capital acquisitions could be notional. This has raised a number of questions on commitment to armed forces modernization. The debate got shriller as China announced an over 10 percent hike to its defence budget at US $ 110 billion plus while in real terms it is said to be approximately US $ 160 billion. There is also much at stake for the global defence industry which in the past few years has been pitching for high stakes investment in India.
India’s security budget for the police given the key challenges faced in this dimension is also relevant and so is the aid and grants planned for development abroad to the Ministry of External Affairs.
This is the only detailed review of the Indian Defence, Internal Security and External Aid and Grants Budget 2013-14 which goes into the depth of budgeting from a perspective of how much for what and how will it be spend, with extensive easy to understand Tables and Figures accompanied by detailed comments and explanation.
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