Page 3 - Defence Budget

Pakistan govt announces nearly 15% hike in defence Budget for 2024-25

Pakistan on Wednesday announced a nearly 15 per cent hike in its defence spending and allocated Rs 2,122 billion in the 2024-25 budget, marking a significant increase from last year amidst strenuous efforts to secure a fresh loan from the IMF to meet the cash-strapped nation's external liabilities. Finance Minister Muhammad Aurangzeb presented the budget in the National Assembly, the lower house of parliament, the first budget of the Pakistan Muslim League (Nawaz) (PML-N) and Pakistan Peoples Party (PPP) coalition government which came to power after the February 8 general elections. Last year, the government allocated Rs 1,804 billion for defence, which was higher than the Rs 1,523 billion allocated the previous year. Aurangzeb said the government set a 3.6 per cent GDP growth target for the next year -- higher than the 3.5 per cent set for the outgoing year. The country however missed that target and could only achieve 2.38 per cent growth. He said the total volume of the budget

HAL, BEL, Data Patterns: Why is Jefferies bullish on these defence stocks?

Analysts at Jefferies see up to 32% further upside on Data Patterns stock, and up to 18% and 10% for BEL and HAL; owing to global geo-political tensions and India's focus on self-reliance.

China defence Budget: Concerns about low soldier readiness, morale dominate

Jump in Chinese defence Budget comes amid concerns in Beijing that its armed forces lack discipline after decades without real combat and a wide-ranging mission to eradicate military corruption

India's defence budget masks capital allocations to each service

The only way to estimate the capital allocation for each service is to calculate the allocations to each service over the preceding decade

Defence budget grows nominally, but fails to beat rising inflation

It covers spending on the so-called Central Armed Police Forces (CAPFs), which amount to over a million armed personnel under the Ministry of Home Affairs

Indian Navy and Coast Guard to receive advanced remote control guns

Ministry of Defence has inked a contract with Advanced Weapon Equipment India Ltd for the production and supply of 463 indigenously manufactured 12.7 mm Stabilised Remote Control Guns (SRCG)

Budget: Defence allocation at Rs 6.21 trillion, but stays below 2% of GDP

As a percentage of government expenditure, the budget allocated to defence is 13 per cent, continuing a multi-year trend of falling allocations

Defence Budget 2024: Rs 6.21 trn allocated, ambitious tech scheme announced

In the capital outlay for defence services, Rs 40,777 crore has been set aside for aircraft and aero engines while an amount of Rs 62,343 crore was allocated for "other equipment"

Interim Budget 2024: Defence budget under Modi govt from 2014-2023

From modernisation to border security, here is a look at India's defence Union Budget over the last decade, according to reports by Ministry of Defence

Israel cabinet set to vote on 2024 wartime budget, higher deficit

Israel last year approved a two-year budget for 2023 and 2024, but the war against Hamas in Gaza has shaken government finances, requiring budget changes and additional spending

House panel recommends benchmark percentage of GDP for defence allocation

The government should fix a "definite benchmark" percentage of the GDP for defence budget as military expenditure by neighbouring countries and the evolving global security scenario warrant such an outlay for the country to prepare for dealing with future security challenges, a parliamentary panel said on Wednesday. It expressed "surprise" over the defence ministry not taking any action towards arriving at such a benchmark yet following its earlier recommendation. In its report, the parliamentary standing committee on defence, specifically recommended putting adequate focus on developing futuristic drones and electronic warfare systems to confront future challenges. "While appreciating the concern and the efforts made by the ministry towards preparedness of the defence forces in the country, the committee feel that the recent wars in the international arena should act as a grim reminder that the nomenclature of war has really changed and defence preparedness in terms of an electroni

Defence allocation went up from Rs 0.81 cr to Rs 1.32 trillion: Govt

There is "no meagre allocation" of resources for defence modernisation, and allocation for it under total capital outlay for defence services has gone up from Rs 80,959.08 crore in financial year 2019-20 to Rs 1,32,301.27 crore in 2023-24, the government informed the Parliament on Friday. Minister of State for Defence Ajay Bhatt said this in response to a query in Lok Sabha. The minister shared data on the "projected and allocated funds under Capital Acquisition (Modernisation Budget) in BE 2023-24". "There is no meagre allocation of resources for defence modernisation and allocation for modernisation under total Capital Outlay for defence services has gone up from Rs 80,959.08 crore in FY 2019-20 to Rs 1,32,301.27 crore in FY 2023-24," he said in his response. The allocated funds are optimally utilised towards operational activities. If required, the schemes are reprioritised to ensure that urgent and critical capabilities are acquired without any compromise to operational ...

Pakistan's defence budget increased by 16% as security challenges looms

The defence spending in 2022-23 was around 2 per cent of the country's GDP, the size of which has grown due to the rebasing of the economy

Cash-strapped Pakistan allocates Rs 1.8 trn for defence in budget 2023-24

Cash-strapped Pakistan on Friday hiked defence spending by 15.5 per cent and allocated over Rs 1.8 trillion, as the government unveiled a Rs 14.4 trillion budget for 2023-24 as it battled to fend off a looming default due to shrinking foreign reserves. Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year. This budget should not be seen as an election budget' it should be seen as a responsible budget', Dar said as the political parties were getting ready for the next general elections scheduled for later this year, amidst political turmoil following the ouster Imran Khan as the prime minister in April last year. Dar presented the budget in the National Assembly, the lower house of parliament, which is being deemed as the last budget of the government before the general elections later this year. He said that a sum of Rs 1,804 billion has b

India world's fourth largest defence spender in 2022, says SIPRI report

India was the world's fourth largest military spender in 2022, with its defence spending increasing by around six percent as compared to 2021, a report by Swedish think tank Stockholm International Peace Research Institute (SIPRI) said. The military expenditure report said around 23 percent of the total spending by India was towards funding equipment and infrastructure, including that along the China border where tension continues. However, a major part of the spending was on expenditures like salaries and pensions. With military expenditure of USD 81.4 billion (one billion=100 crore), India's spending was up by six per cent from 2021 and by 47 per cent as compared 2013. "The increase in India's spending shows the effects of its border tensions with China and Pakistan," the report released on Monday said. Expenditure on capital outlays, which funds equipment upgrades for the armed forces and to the military infrastructure along its disputed border with China, amounted to 23 per cen

Guns vs Butter-III: Much of Army's war-fighting equipment remains vintage

The third of a five-part series looks at the state of the Army's weaponry and the need for greater funding to transition to a more state-of-the-art arsenal

Guns vs Butter-I: House panel welcomes larger funds allocation

The first of a five-part series analyses the military's capex demand versus allocation. The recent report of the parliamentary standing committee on defence provides the backdrop

Indian Army's capital budget should be increased: Parliament panel

The capital budget of the Indian Army should be increased to facilitate enhancing its deterrent capacity to ward off challenges from the two "hostile" neighbours, a parliamentary panel has said in an apparent reference to Pakistan and China. The committee appreciated the efforts made by the Defence Ministry towards the indigenisation of military platforms and hoped that the country would see "100 per cent contract value" going to Indian vendors in the years ahead. Referring to the challenges before the Army, the parliamentary standing committee cited proxy wars, in an apparent reference to Pakistan-backed cross-border terrorism in Jammu and Kashmir. The committee was of the view that funds slated for modernisation of the armed forces should always be incremental. "The committee also desired that there should be a separate allocation for committed liabilities and new schemes, under the modernisation/capital budget," it said. The report of the panel was tabled in the Lok Sabha on ..

Higher defence spending is purely to safeguard nation's sovereignty: China

Foreign media should look at their own countries' military expansions before hyping the "China threat" theory, analysts said

China defence budget raised by 7.2%, 3 times India's, one-third of America

Actual defence spending during the year will rise to $225 billion, a single-digit budget increase for the eighth consecutive year