Union Budget of 2021 was discussed in Parliament on Feb 1st, Monday. Surprisingly, no major surge in Defense Budget has been observed. Concerns were raised when FM Sitharaman didn't even utter a single word regarding the current year's defense allocation. The defense budget of 2021 was a huge matter of discussion in the nation because of current Indo-China tensions.
Defence budget: MoD has been allocated ₹4,78,195.62 crore. Excluding pensions, that's ₹3.62 lakh crore, up a negligible 7.4% from last year’s ₹3.37 lakh crore. Weapons/modernisation outlay up 18% from ₹1,13,734 lakh crore last year to ₹1,35,060 crore for 2021-22. #Budget2021 pic.twitter.com/VYNkHunaCM— Shiv Aroor (@ShivAroor) February 1, 2021
Ministry of Defense has been allocated ₹4,78,195.62 crore. The pension amount will be ₹3.62 lakh crore. The pension amount has seen a negligible rise of 7.4% from last year’s ₹3.37 lakh crore. Weapons/modernisation outlay is up 18% from ₹1,13,734 lakh crore last year to ₹1,35,060 crore for 2021-22.
Overall a rise of 1.4 percent has been observed against last year's defense budget. According to experts, this could be an implication of COVID-19's impact on country's economy.