India boosts its defence budget of 17 percent for the coming year 1703121

a
 

Defense News - India

 
 
Saturday, March 17, 2012, 08:51 AM
 
India boosts its defence budget of 17 percent for the coming year.
India on Friday, March 16, 2012 boosted military spending by 17 per cent to $40 billion for the coming year as it seeks to counter China’s rapid military build-up and its traditional rival Pakistan. The government, engaged in a massive programme to upgrade the country’s ageing military hardware, increased defence spending to 1.93 trillion rupees ($40 billion) for the financial year to March 31, 2013.
     
India on Friday, March 16, 2012 boosted military spending by 17 per cent to $40 billion for the coming year as it seeks to counter China’s rapid military build-up and its traditional rival Pakistan. The government, engaged in a massive programme to upgrade the country’s ageing military hardware, increased defence spending to 1.93 trillion rupees ($40 billion) for the financial year to March 31, 2013.
Indian army soldiers during military parade in New Delhi. (Archive image)
     
The government of India, engaged in a massive programme to upgrade the country’s ageing military hardware, increased defence spending to 1.93 trillion rupees ($40 billion) for the financial year to March 31, 2013. “This allocation is based on present needs and any further requirement will be met,” Finance Minister Pranab Mukherjee told Indian lawmakers announcing the 2012-13 budget in parliament.

The rise follows a 12 per cent increase in defence spending in the previous year’s budget.

India has fought three wars with arch-rival Pakistan since independence in 1947, but China is increasingly seen as the main focus of its ambitious military modernisation and procurement policy. China earlier this month announced an 11.2 per cent hike in military spending for 2012 to $106.41 billion, in a move analysts said would fuel concerns about Beijing’s military build-up and increase regional tensions.

The 2,000-km border between India and China has been the subject of inconclusive talks since 1980s after the two nations fought a brutal war in 1962. India, one of the biggest importers of military hardware in world, is also racked by major internal security problems. Its army is acquiring a slew of new equipment from combat aircraft to submarines and artillery.

It is currently finalising a deal with France’s Dassault Aviation to buy 126 Rafale fighter jets in a contract worth an estimated $12 billion.

 

Cookies settings

×

Functional Cookies

This site uses cookies to ensure its proper functioning and cannot be deactivated from our systems. We don't use them not for advertising purposes. If these cookies are blocked, some parts of the site will not work.

Session

Please login to see yours activities!

Other cookies

This website uses a number of cookies to manage, for example: user sessions.