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 quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’