New Delhi: The Defence Ministry will have about Rs. 86,000 crore for the financial year 2016-17 to fund the purchase of the French made Rafale fighters, Medium Range Surface to Air Missiles (MRSAM) and Submarines for the Indian Navy.
If the Rafale deal goes through, at an estimated cost about Rs. 60,000 crore, India will have to pay about one-sixth of the total cost in the financial year to France.
The total budget allocation for this financial year of Rs. 2,49,099 crore is an increase of nearly one per cent over last year's allocation.
This is apart from the funds for pension and allocation for payment for One Rank One Pension which stands at Rs. 82,332 crore.
The Defence Ministry returned back about Rs. 20,000 crore worth of unspent funds to the exchequer this time. "This is excess is largely because of low international fuel prices," a senior MoD official told NDTV.
Out of nearly Rs. 2,50,000 Crore allocated to the ministry, Rs. 1,62,759 crore is allocated for Revenue expenditure. It includes expenditure for Defence Ordnance factories, Research and Development, Rashtriya Rifles, Military Farms and the National Cadet Corps.
Defence Ministry Gets RS. 86,000 Crore For Rafale Fighters
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