Union Budget 2023-24: Rs 5.94 Lakh Crores Allocated to Defense Ministry
Delhi/Hyderabad, Feb 1 (Maxim News): In view of the growing challenges from China on one side and Pakistan on the other, the Central government has given once again priority to strengthening the defense section in view of the international political developments, Finance Minister Nirmala Sitaraman has allocated a huge budget of Rs. 5.94 lakh crores has been earmarked for the purpose of procuring new weapons and boosting domestic manufacturing.
The union finance ministry’s budget proposals are in the line with the goals of inclusive growth, benefit to the bottom line, infrastructure investment, capacity building, green growth, youth power, and economic sector strengthening. Accordingly, priority has been given to allocations to key sectors. After the defense sector, the Center has announced Rs. 2.70 lakh crore for the Ministry of Road, Transport and Highways, and Rs. 2.41 lakh crore for the Ministry of Railways. Rs. 2.06 lakh crore for the Ministry of Consumer Affairs, Food, and Public Distribution, Rs. 1.96 lakh crore for the Ministry of Home Affairs, Rs. 1.78 lakh crore for the Ministry of Fertilizers and Chemicals. Rs. 1.60 lakh crore for the Ministry of Rural Development, Agriculture Rs. 1.25 lakh crore for the Ministry of Farmers Welfare, and Rs. 1.1 lakhs for the Ministry of Communications, to this extent, the Central government has made proposals in the budget 2023-24. (Maxim News)
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