Union Budget 2021: Finance minister makes no mention of allocation to separate domestic defence sector
The current geopolitical situation in which the Indian forces remain in a tense face-off with China along the northern border has necessitated the emergency purchases
Union Budget 2021: Centre allocates Rs 4.78 lakh crores for defence ministry, hikes capital outlay by 19%
The total outlay of Rs 4.78 lakh crore included an allocation of Rs 1.15 lakh crore for payment of pensions
Union Budget 2021: To pave way for self-reliant defence sector, increased capital outlay is need of hour
While an updated defence acquisition policy pedestal has been set-up in 2020 by the defence ministry, a meaningful fund allocation coupled with tax incentives for achieving the ultimate objective of self-reliance would be the key expectation
Due to the major developments in the situation around LAC and LOC in the past year, the defence budget for 2021 is expected to go up.