Union Budget 2024: Rajnath Singh thanks FM Nirmala Sitharaman for highest allocation to defence sector

New Delhi [India], July 23 (ANI): 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.”