Month: July 2024

Finance Minister Nirmala Sitharaman on Wednesday lashed out at the opposition’s claim that the budget was ‘discriminatory’ and said that it was an ‘outrageous allegation’ and a deliberate attempt by the opposition parties led by the Congress to give the people the wrong impression that their states were not allocated funds or schemes.

The Finance Minister reacted after Leader of Opposition Mallikarjun Kharge made claims that the budget was discriminatory towards the states of the country.

Speaking in the Rajya Sabha, the Finance Minister said, “It is unfortunate that the opposition, particularly a senior leader, Mallikarjun Kharge, stood up to say what he heard of the budget yesterday. Now that the leader of the opposition raised issues on the budget, which was presented and tabled in the house yesterday.”

“Just to the point he raised, I have not named many states and only spoken of two states. There are a few points I would like to make here as to what happens in a speech. The Congress party has been in power for a very long time in this country and they have presented so many budgets that they would know clearly that in every budget, you don’t get an opportunity to name every state of this country,” she said.

“I’ll take this example: between the vote on account which was presented on February 1 this year and the full budget that was presented yesterday for this year, I have not named very many states. The Cabinet, under the leadership of Prime Minister Narendra Modi, decided to set up a port at Vadhvan, but Maharashtra’s name was not included in the budget yesterday. Does this mean that Maharashtra feels ignored?” she said.

The Finance Minister said that 76 thousand crores have been announced for Mahrashtra for that project.

“Maharashtra’s name was not taken on vote-on-account. The state’s name was not mentioned even yesterday; does that mean the state got ignored?” she stated.

Adding further, she said, “And I can take the name of so many different states that have so many major projects. If the speech does not mention the name of a particular state, does that mean the schemes and programmes of the government of India, the externally aided assistance that we obtain from the World Bank, ADB, AIB and so on, do not go to these states?”

“They go as per routine, and, in the expenditure statement of the government, the department-wise allocation of the government mentions all this,” she stated.

“I am saying with responsibility that this is a ‘deliberate attempt’ of the opposition parties led by the Congress to give the people the wrong impression that their states were not allocated funds or schemes,” said Sitharaman.

Challenging the Congress, the Finance Minister said, “I would challenge the Congress party that for all the budget speeches they have delivered. Have they named every state of the country in each of their budget speeches? This is an outrageous allegation,” she stated.

This comes after Mallikarjun Kharge condemned the budget presented yesterday and claimed that no other states other than Andhra Pradesh and Bihar received anything.

“Sabke thali khali aur sirf do ke thali mai pakoda aur jalebi. Ye do states ko chodkar, kisi ko kuch nai mila. Neither Tamil Nadu Kerala nor Karnataka got anything. Neither Maharashtra nor Punjab or Rajasthan and neither Chhattisgarh,” he said.

“Even Delhi did not receive anything nor did Odisha. I have not seen this kind of budget until now. This budget has been presented only to keep some people happy and it has all been done save their chairs, ‘Kursi bachane ke liye’ kiya gaya. We condemn this budget and protest against it. The whole of INDIA bloc condemns this,” said Kharge.

Meanwhile, the opposition INDIA bloc MPs held a protest in the Parliament complex on Wednesday, against the Union Budget, presented on Tuesday by Finance Minister Nirmala Sitharaman.

“Opposition virodhi kursi bachao Budget murda baad” slogans were raised by the INDIA bloc leaders as they protested holding placards in the Parliament building, claiming that the Budget is “discriminatory” in nature.

Leader of Opposition Rahul Gandhi, Congress MP Sonia Gandhi, Congress president Mallikarjun Kharge, party General Secretary KC Venugopal, Samajwadi Party chief Akhilesh Yadav, TMC MP Dola Sen were seen participating in the protest. (ANI)

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Samajwadi Party chief Akhilesh Yadav took a dig at the ruling Bharatiya Janata Party, saying that while the INDIA bloc leaders were demanding Minimum Support Price for farmers, the Union Budget presented on Tuesday, showed that the BJP has given “support price” to their allies.

“We all, especially the Samajwadi Party, were demanding that farmers should get MSP so that their income doubles. But here we are seeing that the support price is given to the alliance partners who are saving their (BJP) government, rather than the farmers…,” Yadav who participated in the INDIA bloc protest against the Budget at the Parliament complex said, speaking to ANI on Wednesday.

Slamming the government for proposing to give internships to youth, Yadav questioned what will happen in their future after their internships are over.

“You are first giving jobs and then creating these jobs in such a haphazard way that the future of youth will not be secured. What will happen after the internship? Who will give them jobs?” the Samajwadi Party chief said.

Yadav also claimed that the government has not taken adequate steps to curb inflation.

“The government could not take any concrete step regarding inflation. Even if you are giving some benefits to the middle class, essentially you are taking it back owing to inflation,” he said.

The Samajwadi Party chief also claimed that Uttar Pradesh did not get any substantial allocation from the Budget because people from Lucknow have angered those in Delhi.

“Uttar Pradesh did not get anything. UP should have got a double benefit from Delhi and Lucknow from the double-engine government. I think the people of Lucknow have angered the people of Delhi. Its result is visible in the budget. So what is the benefit of the double engine?” Yadav said.

The Kannauj MP further suggested that it will not be practical to control floods in Bihar alone unless floods in the upper planes, in neighbouring Nepal and Uttar Pradesh are not brought into check.

“If you want to control floods in Bihar, how can you do so without stopping floods in Uttar Pradesh, Nepal?” he questioned.

Samajwadi Party MP Jaya Bachchan said that the Union Budget presented on Tuesday is just “drama” and the promises on paper will not be implemented.

“This budget doesn’t deserve a reaction. This is just a drama. Promises which will be kept in papers will not be implemented,” Bachchan said speaking to ANI.

Samajwadi Party MP Ram Gopal Yadav who also participated in the INDIA bloc protest said that Uttar Pradesh was not even named in the Budget document.

“Forget about giving anything to Uttar Pradesh, it was not even named (in the Budget)…To save the government, they are giving funds to some and ignoring the others,” Yadav said speaking to ANI.

The opposition INDIA bloc MPs held a protest in the Parliament complex on Wednesday, against the Union Budget.

“Opposition virodhi kursi bachao Budget murda baad” slogans were raised by the INDIA bloc leaders as they protested holding placards in the Parliament building claiming that the Budget is “discriminatory” in nature.

Leader of Opposition Rahul Gandhi, Congress MP Sonia Gandhi, Congress president Mallikarjun Kharge, party General Secretary KC Venugopal, Samajwadi Party chief Akhilesh Yadav, TMC MP Dola Sen were also seen participating in the protest. (ANI)

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The Pilot of the Saurya Airline plane that crashed at the Tribhuvan International Airport (TIA) in Kathmandu is the lone survivor of the crash according to an update from the Tribhuvan International Airport.

In an update, the Tribhuvan International Airport said that 18 dead bodies were recovered from the site and only 1 person survived the crash. The TIA said “CRJ7 (Reg-9NAME) of Sourya Airlines took off from Kathmandu at 11:11 am local time during the flight to Pokhara, turned right and crashed at a place on the east side of the runway. It is reported that the fire was brought under control and the rescue work was started immediately. The dead bodies of 18 people were recovered and 1 injured person was rescued and taken to the hospital.”

Earlier, the Nepal Police informed that 15 bodies were recovered from the crash site. All of the passengers were staff members of the Saurya Airlines. The aircraft was being taken to Pokhara for maintenance.

The pilot, 37-year-old Manish Shakya was rescued from the plane and was rushed to the KMC Hospital in Sinamangal.

The plane 9N-AME (CRJ 200) was only carrying technical staff of the airline, with no passengers on board. Gyanendra Bhul, information officer at TIA, confirmed that the plane was carrying a few technical staff members.

The plane crashed shortly after taking off from the runway, at around 11:00 AM today. Following the crash, smoke was seen coming from the plane. Firefighters and security personnel, including Nepal Police and the Nepali Army, have been deployed to the crash site and are currently trying to control the situation.

Meanwhile, the Tribhuvan International Airport (TIA) has been closed following the crash on Wednesday morning, affecting dozens of flights. The shutdown includes all outbound and inbound flights to the Airport.

The Himalayan Times reported that domestic flights have been stopped at various domestic airports, while international flights have been put on hold or diverted to other airports. The airport will remain closed until the rescue operation is completed. (ANI)

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In the wake of the recent attempt on the life of former US President Donald Trump, Kimberly Cheatle, the director of the US Secret Service, has tendered her resignation, CNN reported on Tuesday, citing sources.

This comes amid ongoing probes by lawmakers and an internal government watchdog into how the agency handled Trump’s safety and how a gunman nearly killed the Republican presidential candidate for Pennsylvania during a rally this month.

Demands for her resignation were also raised by members of Congress from both parties, and Republicans had been continuously pressing for her impeachment since Trump was shot at the Pennsylvania rally on July 13.

After her Monday public hearing before the House Oversight Committee, where she refused to respond to several of the committee’s questions, lawmakers were especially enraged, according to CNN.

Even though Cheatle said there were “significant” and “colossal” issues with the rally’s security during her testimony before the House Oversight Committee, she had previously refused to step down.

“I think I am the best person to lead the Secret Service at this time,” Cheatle said Monday. US House Speaker Mike Johnson told reporters that the resignation is “overdue.”

Cheatle had made it clear earlier as well that she would not resign following the shooting.

President Joe Biden selected Cheatle to head the Secret Service in 2022.

In an interview with CNN last week, Cheatle claimed that the organization was “solely responsible” for the planning and execution of security at the Pennsylvania rally venue, where the since-deceased gunman opened fire on Trump from an unguarded rooftop only a short distance from the rally stage.

One rallygoer was killed and several others were hurt in the event, which narrowly missed Trump’s head.

Trump was on stage at a campaign rally in Pennsylvania when gunshots rang out and Secret Service agents stormed the stage. Hours after the shooting, Trump said that the bullet pierced the upper part of his right ear.

The Federal Bureau of Investigation (FBI) identified the shooter as Thomas Matthew Crooks, 20, from Bethel Park, Pennsylvania. (ANI)

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Taking a strong view into the accident involving INS Brahmaputra warship, the Naval headquarters has ordered a detailed probe led by a Rear Admiral to determine the exact causes and establish accountability based on the inquiry report.

The warship is resting on one side in the Naval Dockyard after a fire incident on board on Sunday night.

Indian Navy chief Admiral Dinesh Tripathi has given strict instructions to the officials concerned to be very careful in handling of vital national assets during his visit to Mumbai to review the cause of the accident, Defence Sources told ANI.

The Navy chief was briefed about the incident by Western Command officials about the accident and the steps being taken by the force, they said.

The Rear Admiral (equivalent to a Major General in the Army) heading the Board of Inquiry has been asked to work in a time-bound matter to find out the exact reasons of the accident, they said.

The Navy Chief had yesterday briefed the Defence Minister about the accident and Rajnath Singh had instructed him to take appropriate action in the matter.

A fire had broken out onboard INS Brahmaputra, while she was undergoing refit. The ship experienced severe listing to one side but despite all efforts, the ship could not be brought to an upright position.

The ship continued to list further alongside her berth and is presently resting on one side.

The missing sailor has also not yet been found but the search operations for him are continuing there, Navy officials said. (ANI)

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Bharatiya Janata Party MP and actor Kangana Ranaut on Tuesday hailed the Union Budget 2024 presented by Finance Minister Nirmala Sitharaman and called it “wholesome”.

Kangana, who is an MP from Mandi in Himachal Pradesh, also referred to the announcement regarding flood relief for the state.

“We are very happy with the budget…,” she said. She also took to Instagram and shared a picture with BJP MPs Bansuri Swaraj and Ravi Kishan.

“Wholesome budget Parliament budget session,” she captioned the post.

In her budget speech in Lok Sabha, Sitharaman said Himachal Pradesh suffered extensive losses due to floods last year.

“Our government will provide assistance to the state for reconstruction and rehabilitation through multilateral development assistance,” the minister said.

Sitharaman said the government is particularly focusing on employment, skilling, MSMEs, and the middle class.

She announced the Prime Minister’s package of 5 schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a five-year period with a central outlay of Rs two lakh crore

“This year, I have made a provision of Rs 1.48 lakh crore for education, employment and skilling,” she said

Sitharaman said the government will implement three schemes for ‘Employment Linked Incentive’, as part of the Prime Minister’s package.

“These will be based on enrolment in the EPFO, and focus on recognition of first-time employees, and support to employees and employers,” she said.

She said Scheme A for First Timers will provide one-month wage to all persons newly entering the workforce in all formal sectors. The direct benefit transfer of one-month salary in three instalments to first-time employees, as registered in the EPFO, will be up to Rs 15,000. The eligibility limit will be a salary of Rs one lakh per month. The minister said the scheme is expected to benefit 210 lakh youth.

The minister said that Scheme B for job creation in manufacturing will incentivize additional employment in the manufacturing sector, linked to the employment of first-time employees. An incentive will be provided at specified scale directly both to the employee and the employer with respect to their EPFO contribution in the first 4 years of employment. The scheme is expected to benefit 30 lakh youth entering employment, and their employers.

The minister said that the employer-focussed Scheme C will cover additional employment in all sectors. All additional employment within a salary of Rs 1 lakh per month will be counted. The government will reimburse to employers up to Rs 3,000 per month for two years towards their EPFO contribution for each additional employee. The scheme is expected to incentivize additional employment of 50 lakh persons.

The minister said the government will facilitate higher participation of women in the workforce through setting up of working women hostels in collaboration with industry, and establishing creches. “In addition, the partnership will seek to organize women-specific skilling programmes, and promotion of market access for women SHG enterprises.”Sitharaman announced a new centrally sponsored scheme, as the 4th scheme under the Prime Minister’s package, for skilling in collaboration with state governments and Industry.

She said 20 lakh youth will be skilled over a 5-year period, 1,000 Industrial Training Institutes will be upgraded in hub and spoke arrangements with outcome orientation. Course content and design will be aligned to the skill needs of industry, and new courses will be introduced for emerging needs.

Sitharaman said the Model Skill Loan Scheme will be revised to facilitate loans up toRs 7.5 lakh with a guarantee from a government promoted Fund. This measure is expected to help 25,000 students every year, she said.

“For helping our youth who have not been eligible for any benefit under government schemes and policies, I am happy to announce a financial support for loans upto Rs 10 lakh for higher education in domestic institutions. E-vouchers for this purpose will be given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount,” she said.

Sitharaman said that under the 5th scheme under the Prime Minister’s package, the government will launch a comprehensive scheme for providing internship opportunities in 500 top companies to one crore youth in five years.

“They will gain exposure for 12 months to real-life business environment, varied professions and employment opportunities. An internship allowance of Rs 5,000 per month along with a one-time assistance of Rs 6,000 will be provided. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds,” she added.(ANI)

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Actor Priyanka Chopra, who is currently shooting her next movie ‘Bluff,’ recently shared a glimpse of homemade food made by her mother.

Taking to her Instagram account on Tuesday, Priyanka shared a picture showing a bowl of palak paneer and a plate of naan.

Along with the picture, the ‘Barfi’ actor wrote, “When you come home to mom after a long day’s shoot,” followed by a red-heart eye emoji, and tagged her mother @drmadhuakhourichopra.

Priyanka recently spent time on a cruise in Queensland, Australia, where she enjoyed whale watching with her mother Madhu Chopra and daughter Malti Marie.

The ‘Desi Girl’ posted a bunch of pictures and videos on Instagram and wrote, “Whale watching made so much fun and easy. Thank you @queensland and @seaworldcruises. Special shout out to Kaelan and Lauren!.”

The mother-daughter duo could be seen enjoying watching whales and posing for cameras on the cruise.

Priyanka was seen donning a purple shirt teamed with matching pants, a black t-shirt and crop top. Malti was dressed in flowery jacket and sported two ponies.

Meanwhile, on the work front, Priyanka has exciting projects in the pipeline.

She is set to star in ‘Heads of State’ alongside John Cena and Idris Elba, as well as in ‘The Bluff,’ directed by Frank E Flowers, which also features actor Karl Urban.

‘The Bluff’ is set in the 19th-century Caribbean and follows the story of a former female pirate, played by Priyanka, who must protect her family when the sins of her past catch up to her.

The film has been produced by Russo Brothers’ banner AGBO Studios and Amazon MGM Studios. (ANI)

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Defence Minister Rajnath Singh on Tuesday thanked Finance Minister Nirmala Sitharaman for giving the highest allocation to the defence sector.

In a post on X, Rajnath Singh said, “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. The capital outlay of Rs 1,72,000 Crore will further strengthen the capabilities of Armed Forces,” the Defence Minister said in a post on X.

“Earmarking of Rs, 1,05,518.43 Crore for domestic capital procurement will provide further impetus to Atmanibharta. I am pleased that Border Roads have been given 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 the iDEX scheme to fund technological solutions given by startups, MSMEs and innovators,” the Minister added.

In another post, Rajnath Singh congratulated for presenting an outstanding full-year budget for FY 2024-25 which will help in moving towards making a prosperous and self-reliant ‘Viksit Bharat’.

“Congratulations to Finance Minister Nirmala Sitharaman for presenting an excellent and outstanding full-year budget for FY 2024-25, which will help in moving towards making a prosperous and self-reliant ‘Viksit Bharat’. Inspired by PM Narendra Modi’s vision of inclusive and fast-paced development, this budget will accelerate India’s economic transformation,” Singh wrote on X.

Praising the Union Budget, the Defence Minister said, “This Budget is unique in many ways and by clearly outlining the NDA Government’s 9 key priorities for all-round and inclusive development, it has successfully elevated India’s growth trajectory. This budget will go a long way in making India a five trillion dollar economy by 2027. This budget will boost demand, create new opportunities for youth and propel India’s economy onto the global stage. I thank PM and FM for giving India a monumental push to India’s economic and social development.”

The post further said, “Numerous policies and programmes to support India’s farmers, youth, women and other weaker sections of the society have also been announced. Sectors like infrastructure, agriculture, banking, energy, industry, R&D, MSMEs and defence have been given special care and attention.” (ANI)

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West Bengal CM Mamata Banerjee on Tuesday slammed the Union Budget 2024-25 calling it politically motivated, directionless, anti-people, and lacking vision.

“Directionless, anti-people, no vision, only political mission is there. I don’t see any light, it is dark,” she said.

She alleged the Budget 2024-25 was anti-people, anti-poor and a politically biased budget.

“This Budget is anti-people, anti-poor and not for the common people. This is a Budget to appease one party. This is a Budget full of political biases,” she said.

She also criticised the Bharatiya Janata Party (BJP) for making false promises during elections and not fulfilling them, saying,They make tall claims and make promises during elections. But after they get votes, they forget Darjeeling, Kalimpong…People in the hills of Darjeeling should remember this. Let Sikkim get things, we have no objection but keeping Darjeeling deprived is not right,” she said.

Finance Minister Nirmala Sitharaman presented her record seventh consecutive Union Budget 2024-25 today (on July 23) during the Budget Session of Parliament. She makes history as the first finance minister to present seven consecutive budget speeches, surpassing former Prime Minister Morarji Desai’s record of six consecutive budgets as finance minister between 1959 and 1964.

FM Sitharaman, in her seventh consecutive Union Budget for 2024-25, outlined key priorities aimed at fostering economic growth and creating ample opportunities. The priorities include Productivity and Resilience in Agriculture, Employment and Skilling and services.

She listed productivity and resilience in agriculture, employment and skilling, inclusive human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms as nine priority areas for the government.

In her budget speech, Sitharaman introduced an increased standard deduction and revised tax rates for salaried individuals under the new tax regime. Sitharaman announced a significant set of income-tax reforms for the fiscal year 2024-25, aimed at simplifying tax laws, promoting compliance, and fostering economic growth.

Sitharaman, in her budget speech, proposed the creation of employment for about 4.1 crore youth over the next five years. Towards this, the finance minister has made an allocation of Rs 2 lakh crore.

Similarly, for skilling the citizens so as to generate job opportunities, she proposed Rs 1.48 crore. 20 lakh youth will be skilled over a five-year period. A total of 1,000 industrial training institutes will be upgraded. (ANI)

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The Ministry of Defence (MoD) has been allocated over Rs 6.21 lakh crore in the Regular Union Budget for the Financial Year (FY) 2024-25.

“In the Regular Union Budget of Financial Year (FY) 2024-25, Ministry of Defence (MoD) has been allocated Rs 6,21,940.85 crore (approx. US $75 Billion), the highest among the Ministries,”as per a Ministry of Defence press release.

“While maintaining the allocation made to MoD during interim budget, the Government has made an additional allocation to the tune of Rs 400 crore on innovation in defence through the Acing Development of Innovative Technologies with iDEX (ADITI) scheme,” as per a Ministry of Defence press release.

Through this scheme, MoD is engaging with start-ups/MSMEs and innovators to develop Def-Tech solutions and supply the Indian military with innovative and indigenous technological solutions. A grant of upto 50 per cent of Product Development Budget with enhanced limit (Max) of Rs 25 crore per applicant will be awarded as per extant iDEX guidelines.

“The allocation to MoD for FY 2024-25 is higher by approx. Rs one lakh crore (18.43 per cent) over the allocation for FY 2022-23 and 4.79 per cent more than allocation of FY 2023-24. Out of this, a share of 27.66 per cent goes to capital; 14.82 per cent for revenue expenditure on sustenance and operational preparedness; 30.66 per cent for Pay and Allowances; 22.70 per cent for Defence Pensions, and 4.17 per cent for civil organisations under MoD. The total allocation comes out as approx. 12.90 per cent of Budgetary Estimate of Union of India,” as per the release.

The allocation is aimed to promote ‘Aatmanirbharta’ in defence technology and manufacturing and equipping the Armed Forces with modern weapons/platforms along with creation of job opportunities for the youth.

“In absolute terms, budgetary allocation under capital head to the Defence Forces for FY 2024-25 is Rs 1.72 lakh crore, which is 20.33 per cent higher than the actual expenditure of FY 2022-23 and 9.40 per cent more than the Revised Allocation of FY 2023-24. The allocation is aimed to fill the critical capability gaps through big ticket acquisitions in current and subsequent FYs. The enhanced budgetary allocation will fulfill the requirement of annual cash outgo on planned Capital acquisitions aimed at equipping the Armed forces with state-of-the-art niche technology, lethal weapons, fighter aircraft, ships, submarines, platforms, unmanned aerial vehicles, drones, specialist vehicles etc.,” the Ministry said in the release.

MoD has earmarked 75 per cent of modernisation budget amounting to Rs 1,05,518.43 crore for procurement through domestic industries during this FY. This will have a multiplier effect on GDP, employment generation and capital formation, thus providing a stimulus to the economy.

“The continued higher allocation for operational readiness boosts the morale of the Armed Forces with the sole motive of keeping them battle ready at all times. The Government has allocated Rs 92,088 crore during the current Financial Year under this head, which is 48 per cent higher than the budgetary allocation of FY 2022-23.

This is aimed to provide best maintenance facilities and support system to all platforms including aircraft and ships. It will facilitate procurement of ammunition; mobility of resources & personnel as demanded by the security situation, and strengthen the deployment in forward areas for any unforeseen situation,” the Defence Ministry said in the release.

The Government is committed to provide best healthcare facilities to veterans and their dependents through enhanced allocation to Ex-Servicemen Contributory Health Scheme (ECHS). In the regular budget for FY 2024-25, Rs 6,968 crore has been allotted to ECHS which is 28 per cent higher than the previous year allocation. This follows the significantly higher allocation at revised estimate stage during the FY 2023-24 when the allocation to ECHS was enhanced by 70 per cent over BE, the Defence Ministry said.

The financial provision made during the budget this year will promote strategic infrastructure development in border areas, while boosting socio-economic development in that region. Projects such as development of Nyoma Airfield in Ladakh at an altitude of 13,700 feet, permanent bridge connectivity to southernmost Panchayat of India in Andaman and Nicobar Islands, 4.1 km strategically-important Shinku La tunnel in Himachal Pradesh, Nechiphu tunnel in Arunachal Pradesh and many other projects will be funded out of this allocation.

“The allocation to the Indian Coast Guard (ICG) for this FY 2024-25 is Rs 7,651.80 crore, which is 6.31 per cent higher over the allocation of FY 2023-24. Out of this, Rs 3,500 crore is to be incurred only on capital expenditure, adding teeth to the arsenal of ICG for addressing the emerging maritime challenges and providing humanitarian assistance to other nations. The allocation will facilitate the acquisition of fast-moving patrolling vehicles/interceptors, advance electronic surveillance system and weapons,” as per the Defence Ministry release.

The budgetary allocation to Defence Research and Development Organisation (DRDO) has been increased to Rs 23,855 crore in FY 2024-25 from Rs 23,263.89 crore in FY 2023-24. Out of this allocation, a major share of Rs 13,208 crore is allocated for capital expenditure. This will financially strengthen the DRDO in developing new technology with special focus on fundamental research and hand-holding of the private parties through Development-cum-production partner. The allocation to Technology Development Fund (TDF) scheme stands out to be Rs 60 crore which is specially designed for new start-ups, MSMEs and academia attracting the young bright minds interested in innovation and developing niche technology in collaboration with DRDO.

The Government has increased the allocation on innovation in defence through iDEX from Rs 115 crore during FY 2023-24 to Rs 518 crore in the current fiscal year, which will boost start-ups/MSMEs/innovators in developing Def-Tech solutions and invite young ignited minds, the Defence Ministry said in the release.

Total budgetary allocation on account of defence pensions is Rs 1,41,205 crore which is 2.17 per cent higher than the allocation made during 2023-24. It will be incurred on monthly pension to approx. 32 lakh pensioners through System for Pension Administration (Raksha) or SPARSH and through other pension disbursing authorities, the Defence Ministry said in the release. (ANI)

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