On the one hand, Pakistan’s provocations, on the other hand, China’s aggression. Economic experts say that allocations have been made in the budget to check both. The Center has raised huge funds for the defense sector to deal with the dangers posed by these two countries, which are preparing to be a headache for the country.
Union Minister Nirmala Sitharaman introduced the budget in Parliament. On this occasion, he said that 68 percent of funding has been increased for the defense sector. That means 68 percent of funding is announced in the capital raising budget for local industries. This fund, which was 58 percent last year, has now been allocated an additional ten percent.
We rely heavily on other countries for defense equipment. In this context, Nirmala Sitharaman said that Atmanirbhar Bharat is making efforts to reduce imports and make locally made weapons. He said their goal was a self-sufficient defense sector.
Defense Research and Development usually provides research and technical requirements for the Indian Ministry of Defense. Now it is opening the door to the private sector. This was disclosed by Union Finance Minister Nirmala Sitharaman. She said R&D was ready to receive services from large companies, startups, and the education sector.
India is the third-largest budget spender on defense in the world. Defense accounts for about 2 percent of the country’s GDP. However, there are allegations that the allocations are huge but their utilization is not at the same level.
