New Delhi, 01 February: Union Finance Minister Nirmala Sitharaman presented the budget for the financial year 2023-24 in the Lok Sabha on Wednesday. In this, a total budget provision of Rs 5.94 lakh crore has been made for the defense sector. This is eight percent of the total budget. In the budget, special emphasis has been laid on self-reliance in the defense sector.
It is noteworthy that in the budget of the financial year 2022-23, a total budget of Rs 5.25 lakh crore was allocated to the Ministry of Defense, which was 13.31 percent of the total budget. This included an amount of Rs 1.19 lakh crore for defence pension.
