After the finance minister announced the budget, defence minister Rajnath Singh said that the centre has allocated 1.05 lakh crore (Rs 1,05,518 crore) for domestic capital procurement which will provide further impetus to atmanirbharta (self-reliance) in the defence sector.
“As far as the allocation to the defence ministry is concerned, I thank Finance Minister Nirmala Sitharaman for giving the highest allocation to the tune of Rs 6,21,940.85 crore, which is 12.9 per cent of the total budget of the government for 2024-25,” Singh said on X.
“The capital outlay of Rs 1,72,000 crore will further strengthen the capabilities of Armed Forces. Earmarking of Rs 1,05,518.43 crore for domestic capital procurement will provide further impetus to Atmanibharta,” he added.
He also expressed his pleasure as the Border Roads received 30% increase in allocation over the last budget under the capital head. “This allocation of Rs 6,500 Crore to BRO will further accelerate our Border Infrastructure.”
The government allocated Rs 1.48 lakh crore for education, employment, and skilling in the country. The government said that they will provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions.
The Finance Minister also said that government will operationalize the Anusandhan National Research Fund for basic research and prototype development and set up a mechanism for spurring private sector-driven research and innovation at commercial scale with a financing pool of Rs 1 lakh crore in line with the announcement in the interim budget.
In the space sector, the centre decided to continue emphasis on expanding the economy by 5 times in the next 10 years, a venture capital fund of ₹1,000 crore will be set up.
