This Article is From Mar 16, 2012

India hikes defence spending to Rs 1,93,007 crore

India hikes defence spending to Rs 1,93,007 crore
New Delhi: India on Friday hiked the Defence budget for 2012-13 to Rs 1,93,007 crore ($42 billion) to fuel rapid modernisation of its Army, Navy and Air Force.

Finance Minister Pranab Mukherjee, who presented the Budget in the Lok Sabha, also raised the capital expenditure on the defence forces to Rs 79,579 crore ($17.5 billion).

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