India’s Defence Budget 2014-15: New Acquisitions Challenged

India’s Defence Budget 2014-15: New Acquisitions Challenged The Finance Minister Mr P. Chidambaram allotted Rs.224,000 Crore (Rs.2.2 trillion/($36.13 billion @Rs 62/- per Dollar) in the defence budget for 2014-15. The increase is Rs 20373 Crore ($3.29 billion) or just above 10 percent to Rs.203,627 crore allocated in the budget for 2013-14 that is the current financial year. Capital budget which is mainly for creation of long term assets including modernization is Rs.89,588 Crore ($14.45 Billion) while the revenue budget for running expenditure of the services is Rs.134,410 Crore ($ 21.69 Billion). The capital budget is far below the expectations for funding modernization for which a 15 to 10 percent hike was necessary. A back of the envelope calculation would reveal that of the ...
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