The Indian Air Force (IAF) has been allocated the lion’s share of the Rs 86,488.01 crore capital outlay, earmarked by Finance Minister Arun Jaitley for modernisation and acquisition plans of India’s armed forces.
Arun Jaitley on Wednesday hiked India’s defence budget by 6.2 percent to Rs 2,74,114.72 crore for FY 2017-18, out of which Rs 86,488.01 crore has been reserved for capital expenditure.
Compared to last year’s Rs 78,586.68 crore, capital outlay for armed forces has been increased by around 10 percent to Rs 86,488.01 crore in this year’s budget.
According to a media report, the Indian Air Force has got Rs 33,555.62 crores under capital head this year for acquiring Rafale jets in addition to other ongoing deals like payment for C-17 transport planes.
The capital outlay for the Indian Army has been increased from last year’s Rs 23,709.17 crore to Rs 25,175.63 crore this year.
Similarly, the capital outlay for the Indian Navy has been increased from last year’s Rs 19,596.28 crore to Rs 19,348.16 crore this year.
