PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
New Delhi: July 10, 2014
RS 1,000 CRORE TO ADDRESS THE PENSION DISPARITIES WHILE
IMPLEMENTING THE POLICY OF
“ONE RANK ONE PENSION” FOR SOLDIERS.
DEFENCE ALLOCATION
RAISED TO RS 2,29,000 CRORE CAPITAL OUTLAY FOR
DEFENCE MODERNIZATION INCREASED BY RS 5,000 CRORE
Allocation
for defence in this year’s General Budget has been raised to Rs 2,29,000 crore.
Presenting the Union Budget in Lok Sabha
today, the Union Finance Minister Shri Arun Jaitley also proposed
a further sum of Rs 1,000 crore to
address the pension disparities while implementing the policy of “one rank one
pension” for soldiers.
Emphasizing on the modernization of the armed
forces to enable them to play their role effectively in the defence of
country’s strategic interests, the Finance Minister also proposed to increase
the capital outlay for defence modernization by Rs 5,000 crore over the amount provided
for in the interim Budget. This includes a sum of Rs 1,000 crore for
accelerating the development of the Railways system in the border
areas. He said urgent steps would also be taken to stream line the procurement
process to make it speedy and more efficient.
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