Indian defence budget increased to Rs. 89,000 crore
Dated 28/2/2006
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New Delhi: As reported on India Defence on 26th February, the Finance Minister Mr. P. Chidambaram today announced an increase in the Indian Defence Bedget. The Defence Budget has been increased from Rs. 83,000 crore to Rs. 89,000 crore with Rs. 39,400 crore as capital allocations.
The total defence allocation for the fiscal year 2006-07 is expected to be Rs. 89,000 crore.
As far as the individual sub allocations are concerned, the Indian Army is entitled to Rs. 41,000 crore while the Air Force and Navy are alloted Rs. 25,000 and Rs. 15,000 respectively.
An amount of Rs. 8,000 crore is expected to be granted to the Defence Research & Development Organization (DRDO). Formal announcements are to be made in Parliament on the 28th of February.
The Army artillery deal and the Air Force MRCA (Multi Role Combat Aircraft) are among the deals expected to be finalized in the coming year 2006-07.
