Indian Budget Allocates INR86000 Crore (US$12 billion) For Defence Equipment Purchase

Indian government’s fiscal 2016-17 budget has hiked the defence budget by 5.8% allocating INR86000 Crore (US$12 billion) for capital expenditure which include money for equipment purchase.

According to Economic Times, Finance Minister Arun Jaitley has increased the defence budget to Rs 2,74,000 crore (US$ 40 billion) that includes capital expenditure, an increase of 10.5 percent the year prior.

Jaitley also said that a central defence travel system has been developed through which soldiers can book travel tickets online. A comprehensive web based defence pension distribution system for defence pensioners has also been developed.