Budget 2016: Arun Jaitley may hike defence budget allocation by 9%
Advertisement
Finance Minister Arun Jaitley is likely to up the allocation in defence by 9% to Rs 2.68 lakh crore.
In the Budget 2016-17, the pension bill may go up by more than Rs 80, 000 crore.
In 2015-16 budget, out of Rs 93,675 crore, Rs 77,406 crore were earmarked for acquisition of weapon systems for the three forces.
However, the commitments haven’t been fulfil as yet due to payments for previous procurements were to be disbursed after reaching certain milestones.
"In some cases, deliveries or milestones could not be ensured on time by the departments. This has resulted in some funds for committed liabilities also lapsing," a senior official told ET.
(Image: Reuters)
Advertisement
In the Budget 2016-17, the pension bill may go up by more than Rs 80, 000 crore.
In 2015-16 budget, out of Rs 93,675 crore, Rs 77,406 crore were earmarked for acquisition of weapon systems for the three forces.
However, the commitments haven’t been fulfil as yet due to payments for previous procurements were to be disbursed after reaching certain milestones.
"In some cases, deliveries or milestones could not be ensured on time by the departments. This has resulted in some funds for committed liabilities also lapsing," a senior official told ET.
Advertisement
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings