TSAMTO, February 2. India has announced a defense budget for 2022/23 fiscal year in the amount of 5.252 trillion. Indian rupees (about $70.0 billion), which in nominal terms is 9.8% more than the approved budget of 2021/22 f.g. and 4.4% more than the revised budget of 2021/22 f.g.
According to the Times of India, defense allocations will amount to about 13% of total government spending or about 2% of projected GDP.
The defense budget includes allocations in the amount of 3.64 trillion. Indian rupees (or 69%) for operational expenses, cash allowances and pensions. At the same time, pension payments will amount to about 33% of the allocations for operational expenses (1.19 trillion. Indian rupees), which is 2.4% more compared to the previous fiscal year.
Capital expenditures for the overall modernization and purchase of new weapons systems will amount to 1.52 trillion. rupees, while the Air Force will receive 555.87 billion. Rupees, Navy – 475.91 billion. Rupees, Ground forces – 320.15 billion. rupees.
According to Indian Finance Minister Nirmala Sitharaman, the government strongly insists on expanding and deepening the policy of "Atmanirbharte" (independence), according to which in 2022/23, 68% of allocations for the purchase of weapons and military equipment will be allocated for purchases from domestic manufacturers (58% in 2021/22, that is, a very sharp increase), and 25% of the R&D budget will be directed to support private business, startups and domestic scientific schools.
These steps are being taken in order to remove India from the strategically vulnerable position of the second largest importer of weapons in the world after Saudi Arabia. "Our government is committed to reducing imports and promoting Atmanirbharta for the armed forces," Sitharaman said.
