The military budget of the India is the portion of the overall budget of Union budget of India that is allocated for the funding of the Armed Forces of the democratic India. This military budget finances employee salaries and training costs, the maintenance of equipment and facilities, support of new or ongoing operations, and development and procurement of new weapons, equipment, and vehicles.
Union Minister for Finance, Arun Jaitley allocated Rs 2.29 lakh crore (equivalent to USD $33 bn) for the development in the army forces marking an raise of around 12.5 per cent from the last fiscal.
Expenditure (% of GDP)
The above statistics was collected by World Bank up to 2013.
|Armed Force||BE 2013-14 (Rs in Cr)||RE 2013-14 (Rs in Cr)||Under/over Spending (Rs in Cr)||Under/over Spending (%)||Interim 2014-15 (Rs in Cr)||% Growth of Interim 2014-15 over BE 2013-14|
The above data was published by Institute for Defence Studies and Analyses.
- "Arms race: India approves defence procurements worth $3.5 bn, says report". The Express Tribune. July 20, 2014. http://tribune.com.pk/story/738177/arms-race-india-approves-defence-procurements-worth-3-5-bn-says-report/. Retrieved 20 July 2014.
- "Defence Ministry gets Rs 2.29 lakh cr in Union Budget". July 10, 2014. http://indianexpress.com/article/business/business-others/defence-ministry-gets-rs-2-29-lakh-cr-in-union-budget/. Retrieved 20 July 2014.
- "Military expenditure (% of GDP)". http://data.worldbank.org/indicator/MS.MIL.XPND.GD.ZS. Retrieved 20 July 2014.
- "India’s Interim Defence Budget 2014-15: An Appraisal". http://idsa.in/idsacomments/IndiasInterimDefenceBudget2014-15_lkbehera_230214. Retrieved 20 July 2014.
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