India yesterday enhanced annual budgetary allocation for defence expenditure by 4.5 per cent to Rs 2.03 lakh crore for the financial year 2013-14, setting at rest speculation that the country’s slowing economic growth could affect its military acquisitions.
Of the total defence outlay for 2013-14, Finance Minister P Chidambaram, who presented his budget in Parliament in the morning, said Rs 86,741 crore will be for capital expenditure in defence sector. Read more…
Source: The Daily Star
