Union Budget 2021: 1.4 percent raise in the defense budget, huge chunk to go to pensions

The defense budget for 2021 has been disclosed to the public as of 1st Feb 2021. In spite of current Indo-China border tensions, No major increase in the allocation has been observed. The impact of the Covid pandemic has been observed.

By Harkirpal Singh, Updated : Feb 01, 2021 14:02 IST
Union Budget 2021: 1.4 percent raise in the defense budget, huge chunk to go to pensions
FM Nirmala Sitharaman

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.

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.

Also Read- Union Budget 2021 Watch Live: MoF Nirmala Sitharaman presenting Union Budget 2021-22 in Parliament

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.

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