Two defence industrial corridors proposed
India has raised its defence budget to Rs.2.95 lakh crore, about Rs.94,000 crore whic if for purchase of military hardware — artillery guns, warships and fighter aircraft.
Tabling the budget on 1 Feb 2018, Finance Minister Arun Jaitley proposed setting up of two defence industrial corridors while coming out with a new defence production policy,
The FY19 budget has Rs.99,563.86 crore for defence modernisation.
Defence Ministry’s total allocation (without pension) in 2018-19 is Rs.2,95,511 crore, Rs. 16,503 crore more than last fiscal’s revised budgetary estimate.
On new infrastructure, Jaitley has proposed construction of a tunnel under the 13,700 ft Sela pass that connects Buddhist town of Tawang with Guwahati. fii-news.com
