New Delhi: Presenting the Union Budget for 2021-22, Union Finance Minister Nirmala Sitharaman on Monday allocated Rs 4.78 lakh crore for the Ministry of Defense. The total amount also includes capital expenditure of Rs 1.35 lakh crore.
Defense Minister Rajnath Singh thanked Prime Minister Narendra Modi and Sitharaman for increasing the defense budget. Rajnath Singh tweeted, "I especially thank the PM and the Finance Minister for increasing the defense budget for the financial year 2021-22, which includes capital expenditure of Rs. 1.35 lakh crores. This in defense capital expenditure. There is an increase of about 19 percent. This is the highest 15-year increase in capital outlay for defense. "
The Defense Minister praised his government's budget 2021-22 and said that it is based on six pillars of good governance. . Based on the 6 pillars of good governance, this budget will propel India towards a new era of inclusive growth and prosperity. "
Sitharaman said in his budget speech that a new world order is emerging after the epidemic and India will play a leading role in it.
Commenting on why the Finance Minister did not mention the defense budget allocation during his speech, Niti Aayog Vice Chairman Rajiv Kumar said it was not part of the (defense) speech, but is in the budget.
Rajiv Kumar said that the Finance Minister has focused on six major pillars in the budget. Defense spending is important, but less connected to our progress and Budget 2021-22 focuses on increasing the pace of our progress.