BRO gets Rs.5,000cr from BE 2023-24
Strategically important assets like Sela Tunnel, Nechipu Tunnel and Sela-Chhabrela Tunnel will be built to boost border infrastructure and enhance border connectivity.
These projects are named as the Defence Ministry increased capital budget for Border Road Organization (BRO) by 43% to Rs.5,000 crore in FY2023-24 from Rs.3,500 crore in FY2022-23.
“The allocation under this segment has doubled in two years since FY 2021-22,” said the Ministry.
Towards strengthening Research and Development in Defence, the DRDO allocation has been enhanced by 9% to Rs.23,264 crore in BE 2023-24.
To further foster innovation, encourage technology development and strengthen the Defence Industrial ecosystem in the country, iDEX and DTIS have been allocated Rs.116 crore and Rs.45 crore, respectively, representing an enhancement of 93% for iDEX and 95% for DTIS over FY2022-23.
This will fulfill the Ministry of Defence’s vision to leverage ideas from bright young minds across the country.
The Union Budget 2023-24 has announced a National Data Governance Policy to unleash innovation and research by start-ups and academia. This will enable access to anonymized data which will further boost the Defence Start-ups and iDEX scheme.
Defence Minister Rajnath Singh asserted that the Budget demonstrates the government’s commitment towards supporting growth and welfare oriented policies that will benefit all sections of society including small business owners, farmers and professionals alike.
He exuded confidence that the Union Budget 2023-24 will help in achieving the Government’s goal of making India a US$5 trillion economy and among the world’s ‘Top Three’ economies within a few years.
Overall, the defence sector is set to spend Rs.90,000 crore from Budget Estimate 2023-24 to close critical gaps in the combat capabilities and equip the Forces in terms of ammunition, sustenance of weapons and assets, military reserves among others.
This is an impressive 44% jump over Rs.62,431 crore allotted in Budget Estimates of 2022-23.
“This Budget has also sustained the thrust on Modernisation and Infrastructure Development of the Defence Services, by continuing an upward trend in Capital Outlay,” the Defence Ministry said on 1 Feb 2023. fiinews.com
