In the regular budget estimates for the Ministry of Defence for 2024–25, there is continuing focus on innovation, domestic procurement, operational readiness and prioritising the well-being of the Service personnel.
The budget estimates for the Ministry of Defence (MoD) for 2024-25 are Rs 621,540.85 crore, constituting 13.04 percent of the total Union Budget and 4.7 per cent higher than BE 2023-24.
Changes in public financial management across the globe have necessitated India to revisit its traditional methods of managing and depicting its public finances. One of the major changes envisaged is a quest to migrate gradually to accrual accounting from the traditional cash-based accounting.
In the Union Budget 2023–24, the estimated allocations for the Ministry of Defence (MoD) are Rs 5,93,537.64 crores, an increase of 13 per cent over BE 2022–23 (Rs 5,25,166.15 crores).
The Srijan defence indigenisation portal is a limited but concrete example of the implications of India’s defence indigenisation efforts for key strategic partners like Israel.
The Defence Acquisition Procedure (DAP 2020), which supersedes the Defence Procurement Procedure 2016 (DPP 2016), is a sincere effort by the Ministry of Defence to improve the capital procurement procedure.
Self-reliance in defence may be better realised if India’s military instrument were to be shaped by political guidance and geopolitical considerations instead of being carried away by the contemporary winds of COVID-19.
