Govt proposes to spend â¹2.9 lakh crore for defence in FY19
The government on Thursday hiked the defence budget for the next financial year to â¹2.95 lakh crore, a nearly 7.81% increase from last year. This includes nearly â¹1 lakh crore allotted for capital expenditure including modernisation. The share of the defence budget in terms of GDP has slipped to 1.57%, the lowest since the 1962 Indo-China war. 