Landmark Defence Budget Allocation to Propel 'Viksit Bharat' Vision

Industry leaders commend the Rs 6.22 lakh crore defence outlay in India's Union Budget 2024-25. This allocation, combined with initiatives like the Critical Minerals Mission and Small Modular Nuclear Reactors, aims to bolster the Aatmanirbhar Bharat agenda and support India's vision for a 'Viksit Bharat' by 2047.

Industry leaders on Tuesday lauded the Rs 6.22 lakh crore defence outlay in the Union Budget 2024-25, describing it as a 'landmark allocation' that sets a 'robust blueprint' for India's integrated development.

Baba Kalyani, Chairman and MD of Bharat Forge Ltd, praised the budget's strong focus on key pillars essential for propelling India's economy towards a 'Viksit Bharat.' Kalyani noted the significant roles of the Critical Minerals Mission and strategies on Small Modular Nuclear Reactors in bolstering the Aatmanirbhar Bharat agenda.

With the ongoing border issues with China and concerns over Chinese forays into the Indian Ocean, the modest hike to Rs 6.22 lakh crore from the previous fiscal's allocation reflects the government's strong commitment to national security. Ashish Saraf from Thales India emphasized that the Rs 1,72,000 crore capital outlay will equip the Indian armed forces with advanced technology, furthering self-reliance and innovation in defence manufacturing.

(With inputs from agencies.)