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Asia - Central | Australia & S. Pacific | Budgets | China | India | Lobbying

India’s Defense Budget Rises 7%, to $20.11 Bn

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India-Defense reports that Finance Minister Mr. P. Chidambaram has announced a 7% increase in India’s Defense budget for the next fiscal year. The Defence Budget has been increased from INR 83,000 crore[1] to INR 89,000 crore ($20.11 billion at March 1/06 interbank conversion), with INR 39,400 crore ($8.91 billion) as capital allocations. According to India-Defence.com, India’s 1.2 million strong Army will receive INR 41,000 crore ($9.26 billion) while the Air Force and Navy are budgeted INR 25,000 ($5.65 billion) and 15,000 ($3.39 billion) crore, respectively. The Defence Research & Development Organization (DRDO) is expected to receive INR 8,000 crore (1.81 billion). $20.11 billion will still be less than 2.5% of India’s GDP. Over the longer term, however, pressure is growing to raise defense spending and change its allocation… IAI Heron UAV Another India-Defence article quotes Chief of Naval Staff Admiral Arun Prakash as saying that India’s Navy will acquire 27 new ships in 5 years, and “another 32 ships in 10 to 15 years.” He was speaking to reporters on the sidelines of the commissioning ceremony of the first UAV Squadron of the Indian Navy (using IAI Heron and Searcher UAVs which performed so well during the tsunami) at Kochi. […]

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