Published: 28th Feb, 2022
India's defence budget has been increased to Rs 5.25 lakh crore for the next fiscal from last year's allocation of Rs 4.78 lakh crore. In the Union Budget 2022-23, the Capital Allocations pertaining to modernisation and infrastructure development of Armed Forces has been significantly increased to Rs 1.52 lakh crore.
The increase in the overall Capital Budget reflects the Government’s resolve towards sustainable enhancement in the modernisation and infrastructure development and also towards achieving the objectives of ‘Aatmanirbhar Bharat’.
Budget Announcement 2022-23: Aatmanirbharta in Defence
- Government is committed to reducing imports and promoting AtmaNirbharta in equipment for the Armed Forces. 68 percent of the capital procurement budget will be earmarked for domestic industry in 2022-23, up from 58 percent in 2021-22.
- Defence R&D will be opened up for industry, startups and academia with 25 percent of defence R&D budget earmarked. Private industry will be encouraged to take up design and development of military platforms and equipment in collaboration with DRDO and other organizations through SPV model.
- An independent nodal umbrella body will be set up for meeting wide ranging testing and certification requirements.
Additionally, to boost the Coastal Security, the Capital budget of Indian Coast Guard has been enhanced by 60.24% to Rs 4,246 crore in FY 2022-23. This enhancement is aimed at building up of assets such as acquisition of ships & aircraft, augmentation of infrastructure, establishment of coastal security network and building up technical & administrative support structures.
This data story aims to highlight the budgetary allocations made in 2022-23 for the defence sector.
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