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India to boost defense spending 13%, with billions for new weapons

Summary by Ground News
India set aside 1.62 trillion rupees ($19.87 billion) for procurement of new weapons and platforms in fiscal year 2023-24. Of this, defense is allocated at INR 5.93 trillion, or about 13% of the total. This includes INR 1.38 trillion for defense pensions.

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India to boost defense spending 13%, with billions for new weapons

The capital expenditure is meant for the procurement of weapons and platforms and payment of outstanding committed liabilities for past defense contracts.

·Arlington, United States
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Defense News broke the news in Arlington, United States on Thursday, February 2, 2023.
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