Will the government focus on upgrading the Navy?
Budget 2025: Different sectors of the country have high expectations from the budget to be presented on February 1, 2025. In this regard, the country’s defense sector also has a lot of expectations from the government. Experts believe that there is a need for comprehensive modernization in the defense sector. However, different experts associated with the sector have different opinions regarding the budgetary allocation. Let us tell you that in the budget for the financial year 2024-25 presented last year, the government had allocated Rs 6.22 lakh crore for the defense sector, which was 4.79 percent more than the budget for the financial year 2023-24.
Will the government focus on upgrading the Navy?
Of the Rs 6.22 lakh crore allocated in the Budget for FY 2024-25, Rs 1.72 lakh crore was for capital expenditure. Experts believe that the government can set aside Rs 1.9 lakh crore for capital expenditure in this budget. Experts say that the government can spend a large part of the capital expenditure amount on upgrading the Navy. Experts say that along with the Navy, the Army and Air Force are also in dire need of modernization in terms of both equipment and manpower training.
Government also focuses on increasing defense exports
Experts hope that this can be implemented in view of the emphasis given by the government on localization, technology transfer and indigenous production in defense manufacturing. Apart from this, the central government can also increase focus on the country’s defense exports. There has been a surge in defense exports in recent years. The country’s defense exports have grown at the rate of 46 percent CAGR between financial years 2017-24. In which more than 85 products including missiles, radar and armored vehicles have been exported to more than 85 countries.
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