Defence Budget 2016-17 – Caught in the Low Capital, High Revenue Trap

Defence Budget 2016-17 – Caught in the Low Capital, High Revenue Trap  A week from today [22 February] the Finance Minister of India Mr Arun Jaitley will be presenting the Annual Budget 2016-17 his third and the second full-fledged one. With the burden of implementing recommendations of the Seventh Pay Commission, management of public debt and an eternal flow of subsidies, Mr Jaitley may not have much to provide for defence capital acquisitions and modernisation of the three services. With varying pressures including the statutory requirement to absorb recommendations of the 14th Finance Commission raising share of the States in the central taxes to 42 percent and larger pension outlays, Mr Jaitley will have to go beyond jugglery of figures to provide more for defence acquisit...
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