Chidambaram raises defence spending, Antony commends FM on good job

Finance Minister P Chidambaram on Thursday announced defence spending of Rs 203,672 crore (over Rs 2 trillion) in 2013-14, marking a increase of over 5 per cent over the outlay of 2012-13, when it was Rs 193,407 crore.

Defence Minister A.K. Antony commended Chidambaram on doing a good job, saying the finance minister had been fair to the defence sector.

"Taking into account the difficult economic situation both at home and abroad, the finance minister has done a good job. The measures that he has outlined for the rejuvenation of the economy while ensuring inclusive growth are indeed commendable," Antony said.

The minister said Chidambaram had said in his budget speech that a positive view will be taken if the need arises for more funds for defence.

"Factoring the current economic scenario, he has been fair to the defence sector also by increasing the budget and assuring that should there be any urgent need in future, the same would be provided," Antony added.