Question
Download Solution PDFDefence allocation in the budget has been increased to ______ crores for the Financial Year 2021-22.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is ₹ 4,78,195.62 crores.
Key Points
- The defence allocation in the Indian Union Budget for the financial year 2021-22 was ₹ 4,78,195.62 crores.
- This allocation represented an increase of around 1.4% over the previous year’s budget allocation of ₹ 4,71,378 crores.
- Out of this allocation, ₹ 1,35,060 crores was earmarked for capital expenditure, which is used for the acquisition of new weapons, aircraft, warships, and other military hardware.
- The remaining allocation was designated for revenue expenditure, which includes salaries, maintenance, and other operational expenses.
- This budget aimed at enhancing the modernization and operational capabilities of the Indian Armed Forces.
Additional Information
- Capital Expenditure
- Capital expenditure includes spending on the acquisition of assets such as weapons, aircraft, warships, and other military hardware.
- It is crucial for the modernization and capability enhancement of the armed forces.
- This type of expenditure is vital for maintaining technological edge and preparedness of the military.
- Revenue Expenditure
- Revenue expenditure includes operational costs such as salaries, maintenance, and day-to-day running expenses.
- This expenditure ensures the smooth functioning and operational readiness of the armed forces.
- It covers costs that recur annually and are necessary for maintaining the efficiency of the forces.
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