This is a rather cavalier treatment of one of the most important items of the government's expenditure statement.
The armed forces are quite happy with the attention paid to their concerns, reports R S Chauhan.
We sought Rs 2,000 crore from government to revamp security infrastructure at bases and installations. But it is yet to give a single rupee: Armed forces. The armed forces will have to spend money on revamping security infrastructure from funds allocated in defence budget: Defence ministry.
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
The defence ministry is expecting a 15 to 20 per cent increase in its budget allocation for the next fiscal due to rise in expenditure on its modernisation drive and commitments following pay review.
The move towards indigenisation of defence procurement creates new opportunities for India's military industrial sector. The Government of India (GoI) has so far released five lists of items for positive indigenisation - these should be manufactured in India, rather than imported. Each item on these lists represents an opportunity for some local firm.
The defence expenditure was 5,55,484 crore while the central government expenditure was 39,44,909 crore for the year 2022-23, according to the data shared by the government in the response.
Prime Minister Narendra Modi and US President Donald Trump have vowed to move forward with plans to work together to build US-designed nuclear reactors in India. The decision was made during their meeting at the White House, where they also agreed to significantly expand energy cooperation. The move comes after India announced plans to amend its nuclear liability law and the Atomic Energy Act, which had previously been obstacles to the implementation of the US-India civil nuclear deal.
India's total value of defence production breached Rs 1 trillion-mark in the fiscal year 2022-23 (FY23), up 12 per cent year-on-year (YoY). At the bourses, this has been well reflected in related-stocks from the sector as they gained considerable ground during this period. Shares of Hindustan Aeronautics (HAL), Mazagon Dock Shipbuilders, MTAR Technologies, Bharat Electronics (BEL), and Bharat Dynamics (BDL) have skyrocketed up to 160 per cent in a year, as against a 14 per cent jump in the S&P BSE Sensex.
Reports claim that the country's defence spending is set to double by 2015
The Trump administration's proposal to significantly cut the budget of international health, development and diplomacy is a "grave mistake" which will "undermine" America's world standing, former US Secretary of State Hillary Clinton has said.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
The new minister must commit himself to supporting long-term defence plans or else defence modernisation will continue to lag and the growing military capabilities gap with China will assume ominous proportions, warns Brigadier Gurmeet Kanwal (retd).
The defence minister has 20 months to learn the military's ethos, culture and to publicly bat for an organisation that feels increasingly marginalised and underappreciated.
The Bharatiya Janata Party (BJP) spent Rs 1,737.68 crore for the 2024 Lok Sabha elections, according to the expenditure report submitted to the Election Commission of India. A majority of the funds were allocated to general party propaganda and candidate-related expenses, with media advertisements accounting for a significant portion. The BJP's election outreach also included extensive use of publicity materials and campaign-related travel. The party's expenditure on public meetings, processions, and rallies, including arrangements for stages, audio setups, barricades, and vehicles, stood at Rs 19.84 crore. The travel expenditure of star campaigners authorized by the party's central headquarters amounted to Rs 168.92 crore, while Rs 2.53 crore was spent on the travel of other party leaders.
'Assuming the official defence allocations represent the true picture, the $142 billion figure still represents a phenomenal increase and surpasses that of Japan ($42 billion), India ($40 billion), South Korea ($33 billion) and several other Asian countries put together and shows that China is flexing its military muscle.'
'Market corrections are a natural part of investing, so it's essential to remain focused on long-term financial goals.'
Senior Congress leader and former defence minister A K Antony on Sunday alleged that disengagement in both the Galwan Valley and Pangong Tso Lake areas and the creation of a buffer zone was a 'surrender' of India's rights.
FM brings these sectors under the knife in a final attempt to hit a tough fiscal deficit target
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
For every rupee in the government coffer, 58 paise will come from direct and indirect taxes, 34 paise from borrowings and other liabilities, six paise from non-tax revenue like disinvestment and two paise from non-debt capital receipts, according to the Budget documents for 2023-24.
The Janata Dal (United), an ally of the ruling Bharatiya Janata Party (BJP), has sought an extension in the tenure of the Joint Parliamentary Committee (JPC) scrutinising the bills proposing simultaneous elections. The party argued that the committee, which has only met once, requires more time for extensive consultations. Meanwhile, the Lok Janshakti Party (Ram Vilas), another BJP ally, has demanded a "special industrial package" for Bihar, highlighting the state's low per capita income compared to the national average.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
India on Saturday announced plans to amend its nuclear liability law and set up a nuclear energy mission, a move that came ahead of Prime Minister Narendra Modi's likely visit to the United States.
The government's indirect tax collection is expected to increase by 8.3 pc in the financial year 2025-26 (FY26), according to a report by ICICI Bank. The report also noted that this growth is higher than the 7.1 per cent increase seen in FY25 and is mainly driven by rise in GST revenue from strong urban consumption. It said "The increase is driven by higher goods and services tax collections which in-turn is explained by boost to urban consumption".
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
In a surprise development, a top Chinese military general has cast aspersions on the People's Liberation Army (PLA)'s much-publicised 'real combat-oriented exercises' as 'fake combat capabilities' at a time when Chinese President Xi Jinping has ordered it to prepare for 'maritime military struggles' to win wars.
China on Tuesday retaliated US President Donald Trump's imposition of 2nd round of ten per cent tariffs on its export by slapping an additional 15 per cent tariffs on American goods and initiated legal action against Washington in WTO while leaving the door open for talks to address each other's concerns.
The fuel cost will come down if rockets are launched from Kulasekarapattinam as they will have a straight trajectory and need not have to avoid Sri Lanka, which is being done by rockets flown from Sriharikota.
'If the markets correct further, PSU stocks could continue to decline.'
'Amid the frequent cries that the defence budget falls short of what is needed, we tend to ignore the reality that any enhancement in the allocation is just not possible, and the armed forces have no option but to operate within this constraint.' 'So, unless deadwood -- especially manpower -- is identified and eliminated, we simply cannot have a modern military of the type that India needs,' says Vice Admiral Premvir Das (retd).
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
It is baffling how the PM chose the LCH as an indigenous product to celebrate on Rashtriya Raksha Samarpan Parv, even while his Cabinet holds up manufacturing clearance for 15 LCHs on the grounds that they are not Indian enough.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
"A mere 5-6 per cent of defence budget for R&D is inadequate to meet the aspirations of India's defence needs especially when China spends about 20 per cent of their defence budget for R&D," said the DRDO chief.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
The finance minister hiked the total defence expenditure from Rs 203,672 crore in FY 2013-2014 to Rs 229,000 crore for FY 2014-2015. Though the increase appears substantial, it is insufficient to undertake the military modernisation necessary to meet the emerging threats, feels Brigadier Gurmeet Kanwal (retd).
The government on Tuesday proposed to extend the period of incorporation of eligible startups by one more year till March 31, 2023 for providing tax incentives, a move aimed at encouraging budding entrepreneurs. Finance Minister Nirmala Sitharaman in her Budget speech said startups have emerged as drivers of growth for the economy and over the past few years, the country has seen a manifold increase in successful startups. Eligible startups established before March 31, 2022 had been provided a tax incentive for three consecutive years out of ten years from incorporation.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
