Budget 2024: Rajnath Singh thanks Sitharaman for 'highest allocation' to defence sector

Defence Minister Rajnath Singh on Tuesday thanked Finance Minister Nirmala Sitharaman for "giving the highest allocation" to defence sector. "As far as the allocation to the Ministry of Defence is concerned, I thank the Finance Minister for giving the highest allocation to the tune of Rs 6,21,940.85 crore, which is 12.9% of the total Budget of GoI for FY 2024-25," he said in a post on X.

Singh said the capital outlay of Rs 1,72,000 crore will further strengthen the capabilities of the Armed Forces. Earmarking of Rs, 1,05,518.43 crore for domestic capital procurement will provide further impetus to Atmanibharta (self-reliance), he added.

The defence minister said he was pleased that Border Roads had been given a 30% increase in allocation over the last budget under the capital head. "This allocation of Rs 6,500 crore to BRO will further accelerate our Border Infrastructure,"

To boost the startup ecosystem in defence industries, Rs 518 crore has been allocated to iDEX scheme to fund technological solutions given by startups, MSMEs and innovators, the minister said.