No big announcement for the defense sector in the first budget

New Delhi , July 5(HS): No big announcement has been made for the defense sector in the first budget of the second term of the Modi government. During the budget speech of Finance Minister Nirmala Sitaraman, no preference was made to the Defense Budget. This is the first time that special budget allocation in the budget speech of any finance minister has not been announced in the Parliament. Though such defense equipment has been exempted from basic customs duty, which have not been produced in India.

However, it has been said that the government has allocated Rs.1,12,079.57 crore for the defense pension. The total defense allocation is about Rs 431,010.79 crore, which is 15.47% of the Central Government’s total expenditure for the coming financial year.

In February last year, Finance Minister’s  Piyush Goyal presented the Budget . In this budget, Piyush Goyal said that under the one rank, one pension, the government has given Rs 35 thousand crore to retired soldiers. This demand of soldiers was pending for 40 years.

In this budget, the government allocated a budget of Rs 3 lakh crore for the defense sector. For the first time in Indian history, budget allocation for the defense sector was Rs 3 lakh crore. However, compared to the 2018 budget, there was a slight increase in the defense sector budget.

Earlier, in the budget of 2018, Finance Minister Arun Jaitley had allocated Rs 2,95,511 crore. Accordingly, in the interim budget, the Modi government has increased the defense budget of the country by 5000 crore rupees. In the year 2017, for the defense sector, the budget was allocated Rs 2.74 lakh crore. Accordingly, the defense budget increased by 7.81 percent.