Interim Budget 2019: In a first, defence allocation crosses Rs 3 trillion
Further, Finance Minister Piyush Goyal said that Rs 35,000 crore has already been disbursed for soldiers under One Rank One Pension
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Presenting the Interim Budget 2019, Finance Minister Piyush Goyal on Friday announced that the defence budget for the financial year 2020 has been increased to over Rs 3 trillion, compared to the outlay of Rs 2.95 trillion in the previous Budget.
"The defence budget has exceeded Rs 3 trillion for the first time ever," Goyal said, adding that the government would provide additional funds for defence if needed.
Further, Goyal said that Rs 35,000 crore has already been disbursed for soldiers under One Rank One Pension (OROP). He also said that a substantial hike in military service pay has been announced.
In 2018-19, the outlay for defence budget had amounted to 12.10 per cent of the total budget of Rs 24.42 trillion (Rs 24,42,213 crore).
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