Union Minister Nirmala Sitharaman presented her second budget on Saturday. One of the most important areas for any country is its national security. And allocations made in the budget for Defense go a long way towards determining the ability of the Indian Defense Establishment to protect the country. Defence allocations are, thus, a prominent feature of every budget including Budget 2020.
Nirmala Sitharaman announced during the budget that the allocation for modernization and buying new weapon systems has been increased to Rs. 1,10,740 crore for the financial year 2020-21, which is an increase of Rs. 10,340 crore from the previous year. The total allocation for defence expenditure was announced to be Rs. 4,71,378 crore in Budget 2020. This marks a 9% increase. The defence pension budget has been increased to Rs. 1.33 lakh crore in Budget 2020 from the Rs. 1.17 lakh crore announced the previous year.
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Last year, during the interim budget, Piyush Goal had announced that the government has released funds to the tune of ₹35,000 crores to Army personnel as part of the One Rank One Pension (OROP) scheme. It was also the first time that India’s defence budget crossed three lakh crore. It was also said additional funds would be provided should it be necessary.