Indian Budget 2006-07 on Defence Sector

Defence Sector

• - An increase of 7.2 per cent, allocating a whopping Rs 89,000 crore for the fiscal year 2006-07.
• - Of this, Rs 37,458 crore or 42 per cent of the total outlay has been earmarked for new arms purchases.
• - Allocation for defence increased from Rs 83,000 crore in the current fiscal in view of the enhanced expenditure on the modernisation of the armed forces.
• - India is in the market for a wide array of sophisticated hardware, including 126 combat jets and 80 helicopters, to modernise the ageing military arsenal, and some deals are expected to be finalised in the next fiscal.