India announces increased defense budget

India announced a new defense budget of INR5.25 trillion (~ $70 billion) for the Defense Ministry in the fiscal year 2022-2023.

The announced figure represents a 9.8% increase compared to the previous year. The allocated sum for the defense budget is 13% of the Indian governments total budget for this year.

Indian Finance Minister also announced steps to boost domestic defense manufacturing to reduce imports.


Leave a Comment