INDIA’S DEFENCE BUDGET: OVERCOMING PERSISTENT STRUCTURAL CHALLENGES The Finance Minister Mr Arun Jaitley, who was a part-time Defence Minister in 2014, received praise from an innovative Union Budget for the financial year 2015-16 presented to the parliament on 28 February 2015. One area, however, which did not satisfy was allotments made for the defence services.  The allocations were Rs 2, 46, 727 Crore ($40 billion) to the three services, Ordnance Factories and DRDO in 2015/16 as against Revised Estimates of Rs 2, 22,370 Crore for the year 2014-15. The increase is Rs 24357 Crore or 10.9 from the Revised Estimates and Rs 17727 Crore or 7.74 percent from the Budget Estimate of Rs 229,000 Crore announced in July 2014.  Capital budget that goes towards modernisation of t...
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Helpline 1090