The GOI should fix a “definite benchmark” percentage of the GDP for defence budget as military expenditure by neighbouring countries and the evolving global security scenario warrant such an outlay for the country to prepare for dealing with future security challenges, a parliamentary panel said on.
Defence Budget Enhancement
The GOI should fix a “definite benchmark” percentage of the GDP for defence budget as military expenditure by neighbouring countries and the evolving global security scenario warrant such an outlay for the country to prepare for dealing with future security challenges, a parliamentary panel said on. It expressed “surprise” over the defence ministry not taking any action towards arriving at such a benchmark yet following its earlier recommendation.
In its report, the parliamentary standing committee on defence, specifically recommended putting adequate focus on developing futuristic drones and electronic warfare systems to confront future challenges. “While appreciating the concern and the efforts made by the ministry towards preparedness of the defence forces in the country, the committee feel that the recent wars in the international arena should act as a grim reminder that the nomenclature of war has really changed and defence preparedness in terms of an electronic warfare has become an imperative need for our nation,” it said.
It said for ensuring such preparedness in view of the prevailing security scenario in the world today, there is a need for constant requirement of funds at regular intervals.
India’s defence budget in the last few years hovered around 1.8 to 1.97 percent of the GDP (Gross Domestic Product). The allocation of Rs 5.93 crore in the defence budget for 2023-24 was 13.18 per cent of total Central government expenditure and 1.97 % of the GDP.
It recommended in unequivocal terms that if not the global parameter of 3 %, feasibility may be explored to fix a benchmark as the country’s GDP that will help in forming a right trajectory for the defence expenditure for the country.
