India’s military expenditure goes up 13 per cent in new budget

NEW DELHI, Feb 2 (NNN-Bernama) — India’s military expenditure has gone up by 13 per cent in the national budget for financial year 2023-24 starting April.

The government has allocated 5.93 trillion rupees for the defence sector compared with 5.25 trillion rupees in the 2022-23 budget.

In terms of US dollars, military spending for 2023-24 will be about US$72.5 billion.

Capital expenditure, meant for weapons and modernisation, is about US$19.9 billion.

Revenue expenditure, which includes salaries and money spent on maintenance of facilities, is US$33 billion.



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