The Indian Government has announced an 18.75% increase in defense capital expenditure for the financial year 2021-22.
Finance Minister Nirmala Sitharaman announced Rs4.78tn ($63.75bn) allocation for the defense sector.
It also represents an increase of 30.62% over FY2019-20.
Among the components allocated for defence, Rs1.35tn ($18bn) has been allocated for capital expenditure (capex).
India; Government approves 2021-22 defense budget