Allocation for Defence enhanced to Rs 89, 000cr
New Delhi, Feb 28: The Government has increased the allocation for Defence from Rs 83,000 crore to rs 89,000 crore in the Union Budget of 2006-07. It will include Rs 37,458 crore for capital expenditure.
Finance Minister P Chidambaram justfied the higher allocation keeping in view the enhanced expenditure on modernisation of Defence Personnel Below Officer Rank (PBOR) for better pensionary baenefits.
About 12 lakh PBOR have benefited to the tune of Rs 460 crore with effect from January 1, 2006.