Instead of one year in the defense budget, preparations for 5 years will be prepared. | This time in the defense budget, preparations will be made for 5 years, for the first time it can touch the level of 6 lakh crores.

Fed up with Ads? Install Dainik Bhaskar app for news without ads

This time it is estimated to reach 6 lakh crore due to the ongoing tension on the border. (File photo)

The military department of the Ministry of Defense is preparing a long-term outline of military preparedness. Under this, a five-year defense modernization plan is being prepared. This time the defense budget will be based on the roadmap for joint modernization of the three armies. Not only this, a two-year annual roll on plan is also being made under the Integrated Capability Development Plan to increase the capacity of the three armies. Also, negotiations are going on with the Finance Ministry to create a defense modernization fund that is not laps.

There is a possibility of war on two fronts, so the budget may increase
There are indications that not only will the budget for the expenditure in defense sector be arranged for one year, but also according to the estimate of the next five years in the budget. According to defense sources, the budget could be the biggest increase so far in view of the ongoing tension at the border. This time it is estimated to reach six lakh crore.

In the budget of 2020-21, a provision of Rs 4 lakh 71 thousand crore was made, but in this one lakh 33 thousand crore was for pension only. So there was only 3 lakh 23 thousand crore left for defense expenditure.

China’s defense budget 5 times than India
India’s defense budget is nowhere compared to China. Five times more than India’s defense budget of about $ 45 billion. China’s defense budget is 167 billion dollars. Defense Renewal Fund will be created for the in-house resources of the armies, in which funds will be raised from the monetization of defense land. 40 thousand crore rupees will be raised in 8 years through National Building Construction Corporation Limited on the lines of self-financing to build 80 thousand houses of soldiers.

The Defense Ministry is also continuously working on reducing its pension budget which has increased from 1 lakh 17 thousand crore to 1 lakh 33 thousand crore. Initiatives have been taken to increase the age of retirement of soldiers.

Major reasons for more defense budget