Defence Budget Of India Likely To Observe 9 Percent Hike This Fiscal
BENGALURU: Whether you are an average tax payer, rail commuter, global investor, or an analyst, the upcoming budget is the high spot of your most anticipated financial unwraps of the year. It will certainly impact the current state of Indian economy. Amidst socio-political concerns such as the uplift of the poor, progress of farmers and employment for the youth might be the focus of the upcoming budget, defence budget is most all important for the safety and security of our nation. Last year the government increased its defence budget by 10.95 per cent to Rs 2.46 lakh crore. For the current fiscal year 2016-17, the Indian Government is likely to raise the defence budget by 9 percent with an estimated value of INR 2.68 lakh crore for, reports Manu Pubby, EconomicTimes.
It is also speculated that the pension bill is set to zoom in the next fiscal year and it alone will raise over by INR 80,000 crore owing to the expected implementation of the one rank, one pension plan (OROP). Added pensions and civil expenses of the ministry, the budget will observe an increment of about 13 percent to INR 3.5 lakh crore from INR 3.1 lakh crore.
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