Defence modernisation expenditure Rs 62,341.87 cr

The actual expenditure of defence modernisation had come down to Rs 62,341.87 crore last fiscal from Rs 66,850.30 crore in 2013-14 event though the total allocation has increased.
In a written reply to Lok Sabha, Defence Minister Manohar Parrikar said the budgetary provision of Rs 69,898.51 crore for the financial year 2016-17 made for the Defence Services Estimates is 27.45 per cent less than the projected requirements (Rs 96,343.03 crore) of the various Services and Departments.
However, he said the funds allocated are adequate to meet the contractual commitments and some fresh modernisation schemes for the present.
"Additional requirement of funds as necessary will be projected depending on pace of utilisation of allocation, progress of ongoing and new modernisation schemes and other priority requirements,' he said.

Giving details of the amount spent on modernisation, Parrikar said that in 2013-14, Rs 73,444.59 crore was allocated of which Rs 66,850.30 crore was spent.
In 2014-15, Rs 75,148.03 crore was allocated of which only Rs 65,862.38 crore was spent.
Last fiscal, while there was an allotment of Rs 77,406.69 crore, only Rs 62,341.87 crore was spent.