Defence Minister Praises Record-Breaking Defence Budget Allocation

Defence Minister Rajnath Singh expressed gratitude to Finance Minister Nirmala Sitharaman for the unprecedented defence budget allocation for FY 2024-25. Singh highlighted the significant investments made towards enhancing armed forces capabilities and promoting domestic capital procurement to reinforce India's self-reliance and economic transformation.

Defence Minister Rajnath Singh on Tuesday thanked Finance Minister Nirmala Sitharaman for the highest-ever allocation to the defence sector. In a social media post, Singh remarked, "As far as the allocation to the Ministry of Defence is concerned, I thank the Finance Minister for giving the highest allocation amounting to Rs 6,21,940.85 Crore, which accounts for 12.9% of the total Budget of the Government of India for FY 2024-25. The capital outlay of Rs 1,72,000 Crore will further strengthen the capabilities of Armed Forces."

Highlighting the focus on domestic procurement, Singh said, "Earmarking of Rs 1,05,518.43 Crore for domestic capital procurement will provide further impetus to Atmanirbharta. I am pleased that Border Roads have been given a 30% increase in allocation over the last budget under the capital head. This Rs 6,500 Crore allocation to the Border Roads Organisation will accelerate our Border Infrastructure. To boost the startup ecosystem in Defence Industries, Rs 518 crore has been allocated to the iDEX scheme to fund technological solutions provided by startups, MSMEs, and innovators." Singh also commended the full-year budget, saying, "Congratulations to Finance Minister Nirmala Sitharaman for presenting an excellent budget for FY 2024-25, which will propel India towards a prosperous and self-reliant 'Viksit Bharat'. Inspired by PM Narendra Modi's vision of inclusive and fast-paced development, this budget will accelerate India's economic transformation."

He praised the budget's unique approach, noting, "This Budget is unique in many ways and by clearly outlining the NDA Government's 9 key priorities for all-round inclusive development, it has successfully elevated India's growth trajectory. This budget will help make India a five trillion dollar economy by 2027, boost demand, create new opportunities for youth, and propel India's economy onto the global stage. I thank PM and FM for this monumental push to India's economic and social development." Singh emphasized that numerous policies and programmes announced in the budget will support India's farmers, youth, women, and other marginalized sections of society. Special attention has been given to sectors like infrastructure, agriculture, banking, energy, industry, R&D, MSMEs, and defence.