Key Takeaways
- The Union Budget 2024-25 allocates the highest amount to the Defence Ministry, with Rs 6,21,940.85 Crore.
- The Budget gives a 30% increase in allocation to Border Roads, with Rs 6,500 Crore allocated to BRO.
- The iDEX scheme receives Rs 518 crore to fund technological solutions given by startups, MSMEs and innovators.
New Delhi: Defence Minister Rajnath Singh on Tuesday thanked Finance Minister Nirmala Sitharaman for the highest allocation to his Ministry to the tune of Rs 6,21,940.85 Crore, which is 12.9 percent of total Budget for FY 2024-25.
On microblogging site X, Rajnath said, “The capital outlay of Rs 1,72,000 Crore will further strengthen the capabilities of Armed Forces. Earmarking of Rs, 1,05,518.43 Crore for domestic capital procurement will provide further give 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 iDEX scheme to fund technological solutions given by startups, MSMEs and innovators,” he said.
Moreover, he hailed the Union Budget saying that this will help in moving towards making a prosperous and self-reliant ‘Viksit Bharat’.
The Budget will accelerate India’s economic transformation, inspired by Prime Minister Narendra Modi’s vision of Inclusive and fast-paced development.
The Minister said that the Budget was unique in many ways and outlined the NDA Government’s nine key priorities for all-round and inclusive development. This Budget will go a long way in making India a five trillion dollar economy by 2027.
“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,” Rajnath said.
He thanked the Prime Minister and Finance Minister saying that this Budget will give a monumental push to India’s economic and social development.
