Defence budget pegged at Rs 3 lakh crore

Last Updated: Fri, Feb 01, 2019 13:08 hrs
Indian Military (IANS photo)

New Delhi: The defence Budget for the financial year 2019-20 was on Friday pegged at Rs 3 lakh crore, up by around RS 4,500 crore from the previous fiscal.

Announcing the outlay while presenting the interim Budget in the Lok Sabha, Finance Minister Piyush Goyal said it is the first time that the outlay has touched Rs 3 lakh crore mark.

He said if more funds are required, those will be made available.

The intent is to strengthen the defence of the country, Goyal said.

The defence Budget earmarked in the last fiscal was Rs 2,95,511 crore. 

Talking about One Rank, One Pension (OROP), the Finance Minister said Rs 35,000 crore have already been dispersed under this scheme by the present government.

He used the occasion to target the previous UPA government, saying it had earmarked just Rs 500 crore for the purpose.