New Delhi: India has announced its largest-ever defence and infrastructure budget. Finance Minister Nirmala Sitharaman presented the plan in parliament, allocating $85 billion for defence. Infrastructure spending has also risen to nearly $133 billion to support growth and security.
The government said the increased defence funding responds to recent regional tensions. Defence Minister Rajnath Singh said the allocation is unprecedented and will equip the armed forces with fighter jets, drones, naval ships, submarines, and other key hardware. India is negotiating contracts with domestic and foreign suppliers.
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The budget also prioritizes advanced technology and industrial development. Initiatives include support for artificial intelligence, data centers, and rare earth mineral mining. Officials said these resources are vital for defence and future industries.
Prime Minister Narendra Modi highlighted the budget’s long-term goals. He said India aims to become the world’s third-largest economy. Several sectors, including textiles, electronics, pharmaceuticals, and chemicals, will benefit from industrial park development and public investment.
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An additional $5 billion has been allocated to strengthen domestic electronics manufacturing. Officials said the initiative will create jobs, reduce import dependence, and boost national production. The government stressed that strategic investments in infrastructure and defence are crucial for sustained growth.