India’s Defence Budget 2014-15 – Expect a 15 - 20 percent Hike

India’s Defence Budget 2014-15 – Expect a 15 - 20 percent Hike The Finance Minister will be presenting the Union Budget on Feb 17. While the Budget for the whole year will be presented vote on account is required to be passed by the parliament for four months of the financial year 2014-15 from April to July. In August 2014, a fresh budget will be presented by the new government which is expected to take office by June.The current years (2013-14) defence budget was Rs 203672.12 Crore or approximately US $ 33 billion in dollar terms (Rs 62/dollar).  A major part of this is the revenue budget with only Rs 86740.71 Crore allotted for capital acquisitions. The share of defence budget in GDP for 2013-14 has been low at 1.79 percent whereas there is a general demand that this sh...
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