The government on Tuesday allocated Rs 6,21,940 crore for the defence budget for 2024-25, up from last year's outlay of ₹5.94 lakh crore.
The capital outlay has been pegged at ₹1,72,000 crore.
The total allocation to the defence sector is 12.9 per cent of the total budget of the government of India for the financial year 2024-25.
Defence Minister Rajnath Singh said the allocation of ₹1,05,518 crore for domestic capital procurement will provide further impetus to atmanirbharta (self-reliance) in the defence sector.
As far as the allocation to the Ministry of Defence is concerned, I thank Finance Minister Nirmala Sitharaman for giving the highest allocation to the tune of ₹6,21,940.85 crore, which is 12.9 per cent of the total budget of the government for 2024-25, Singh said on X.
"The capital outlay of ₹1,72,000 crore will further strengthen the capabilities of Armed Forces. Earmarking of Rs 1,05,518.43 crore for domestic capital procurement will provide further impetus to Atmanibharta," he said.
"I am pleased that Border Roads have been given 30 per cent increase in allocation over the last budget under the capital head. This allocation of ₹6,500 crore to BRO will further accelerate our border infrastructure," he said.
To boost the startup ecosystem in defence industries, ₹518 crore has been allocated to the iDEX scheme to fund technological solutions given by startups, MSMEs and innovators, Singh said.
In the interim budget presented on February 1, the government's defence budget was pegged at ₹6.21 lakh crore.