Wednesday 1 February 2017

Budget 2017: FM increases allocation to Defence sector

The Finance Minister has increased the amount bailed out, allocating Rs 2,74,114 crore to the Defence sector, which is excluding pension. Out of the total capital allocated, Rs 86,000 crore has been dedicated to defence capital.

The Centre has also developed a defence travel system through which the soldiers can book tickets. A web based system for the defence pensioners has also been developed.

The Defence sector is of prime importance to any nation, and our country, India, currently ranks 4th in the world according to the expenditure made in the sector.

Reacting to the news, BEL and Astra Microwave are trading up with the gains of 1.66% and 0.93% respectively. 

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