Last Updated on 23/07/2024 by wccexam Desk
Defence Minister Rajnath Singh in the Parliament complex.
Headlines
- Finance Minister Nirmala Sitharaman presented the budget for the year 2024-25
- Changes have been made in the new tax regime in the budget, this will provide relief
- Gold and silver became cheaper due to reduction in customs duty, mobile phones also became cheaper
defense sector budget 2024: Defence Minister Rajnath Singh has expressed happiness over the allocation for the defence sector in Budget 2024 and thanked Finance Minister Nirmala Sitharaman. Reacting to the budget, Rajnath Singh said that he thanks Sitharaman for allocating the highest amount ever for the defence sector. In his post on X, the Defence Minister said that as far as the budget allocation for the Defence Ministry is concerned, he thanks the Finance Minister for making the highest allocation of Rs 6,21,940.85 crore. This amount is 12.9 per cent of the total budget of the Government of India for 2024-25. Also, the capital outlay of Rs 1,72,000 crore will increase the capabilities of the armed forces.
This budget will give further impetus to our border infrastructure- Rajnath
He further wrote, ‘I am happy that the border roads have been given a 30 percent increase in allocation under the capital item as compared to the last budget. This allocation of Rs 6,500 crore to BRO will further accelerate our border infrastructure. To promote the startup ecosystem in defense industries, Rs 518 crore has been allocated for the IDEX scheme to finance technological solutions provided by startups, MSMEs and innovators.’
A big step towards making ‘Developed India’- Singh
He further wrote, ‘Congratulations to Finance Minister Nirmala Sitharaman for presenting the budget for the financial year 2024-25. This budget is a big step towards building a prosperous and self-reliant ‘developed India’. With a vision of inclusive and fast-paced growth, this budget will accelerate India’s economic transformation. This budget is unique in many ways and clearly outlines the 9 key priorities of the NDA government for all-round and inclusive development.’
‘Will help create a $5 trillion economy’
He further wrote, ‘This budget will play an important role in making India a five trillion dollar economy by 2027. Many policies and programs have also been announced to support India’s farmers, youth, women and other weaker sections of the society. Special attention has been given to sectors like infrastructure, agriculture, banking, energy, industry, research and development, MSME and defense.’