Defence Budget: FM increases capital outlay for military modernisation by 19%, highest in 15 years

"I specially thank PM and FM for increasing the defence budget to Rs 4.78 lakh cr for FY 21-22 which includes capital expenditure worth Rs 1.35 lakh crore. It is nearly 19 per cent increase in defence capital expenditure. This is the highest ever increase in capital outlay for defence in 15 yrs," Defence Minister Singh tweeted.

Experts believe the increase in capital outlay will help the Armed Forces in carrying on with their modernisation drive in order to increase its warfighting capability.

Last month, Army Chief MM Naravane had said that self-reliance in defence has become a strategic necessity for India, highlighting that the country is lagging behind in defence modernisation compared to its adversaries.

He also said that Pakistan and China together form a potent threat to national security and their collusive approach towards India cannot be wished away.