India Unveils $32B Defense Budget

[RiazHaq]

India's 2010-2011 budget of 11.08 trillion rupees ($240 billion) represents an increase of 8.6% over 2009-2010. The government plans to borrow $100 billion to finance the deficit during the fiscal year.

Going forward, India plans to cut the deficit to 5.5 percent of gross domestic product in the year starting April 1 from 6.9 percent the previous year. The effort, which relies on tax increases and 400 billion rupees ($9 billion) of state asset sales, is aimed at shrinking a debt burden equivalent to about 82 percent of the GDP.

The defense allocation for 2010-2011 is up another 8.13 percent on top of the massive 34% increase in 2009-2010, according to media reports.

India's defense expenditure has been raised to Rs.147,344 crore (Rs.1.47 trillion/$32 billion) for 2010-11, up 8.13 percent from the revised estimates of the previous fiscal, in the budget presented by Finance Minister Pranab Mukherjee in the Lok Sabha today.

According to the Wall Street Journal, India is one of the largest buyers of foreign-made munitions, with a long shopping list which includes warships, fighter jets, tanks and other weapons. Its defense budget is $30 billion for the fiscal year ending March 31, a 70% increase from five years ago. The country is preparing its military to deal with multiple potential threats, including conflict with China and Pakistan.

"For 2010 and 2011, India could well be the most important market in the world for defense contractors looking to make foreign military sales," according to Tom Captain, the vice chairman of Deloitte LLP's aerospace and defense practice.

Haq's Musings: India to Borrow and Spend More in 2010 Budget

Haq's Musings: FAQs on India's Massive 34% Defense Budget Hike

 

[Hyde]

India's 2010-2011 budget of 11.08 trillion rupees ($240 billion) represents an increase of 8.6% over 2009-2010. The government plans to borrow $100 billion to finance the deficit during the fiscal year.

I would like to know the source for this news

Thanks

 

[RiazHaq]

[/B]

I would like to know the source for this news

Thanks

Gross borrowing for the new fiscal year will total 4.57 trillion rupees ($99 billion), below a Reuters poll forecast for 4.61 trillion but above a record 4.51 trillion rupees expected in the current year ending in March, Mukherjee said.

"With the fiscal deficit expected to be still high over the next fiscal year, it is clear that the onus will be on the RBI to hike rates in coming months in order to move policy settings closer to neutral and to deal with emerging inflation pressures," said Brian Jackson, strategist at Royal Bank of Canada.

Budget raises borrowing to new record; bonds hit | Business News | Reuters

 

[xman]

India ONLY has 6 neighborsakistan, Bangladesh, Bhutan, Nepal, China, Myanmar;and at sea only two: Sri Lanka and the Maldives;they are all little power except PAK and China;
But China has 14 at land and 6 at sea:North Korea, Russia, Mongolia, Kazakhstan, Kyrgyzstan, Tajikistan, Afghanistan, Pakistan, India, Bhutan, Nepal, Myanmar, Laos and Vietnam,(and Sikkim is no longer a ountry)
at sea:
South Korea, Japan, the Philippines, Malaysia, Brunei and Indonesia;


There is no Comparability

yes you are right absolutely right. but you forgot to mention something. I willl do that for you that is:

India is trying to safeguard these countries and bring development in the region where as Chinese budget is to invade these countries.

 

[shchinese]

yes you are right absolutely right. but you forgot to mention something. I willl do that for you that is:

India is trying to safeguard these countries and bring development in the region where as Chinese budget is to invade these countries.

China can occupy your capital and help to guide your people.

trust me, we can create job opporunties, build schools roads hospitals for your people.

 

[jbond197]

China can occupy your capital and help to guide your people.

trust me, we can create job opporunties, build schools roads hospitals for your people.

First reach the small island of Taiwan before dreaming any thing bigger, Kid !

 

[chinapakistan]

First reach the small island of Taiwan before dreaming any thing bigger, Kid !

According to your words, we dont even have the abality to reach Taiwan but we beat india 40 years ago. Doese it mean Taiwan is far stronger than indian?

 

[12345]

According to your words, we dont even have the abality to reach Taiwan but we beat india 40 years ago. Doese it mean Taiwan is far stronger than indian?

Yes.....China beat India.But again tons of chinese soldiers unprovokedly attacked few border posts of IA. Again when India flexed its muscle,Chinese ran away.... A great history to boast about....
anyways,chinese are good in tactics.(like hitting a son and when his dad comes,running away )

And regarding Taiwan,instead of words,the situation puts everything in detail.You should judge your own strengths.

by the way.....
Taiwan is weaker than Vietnam.means,you should give it a try.If taiwan becomes any stronger than vietnam,you will have a bloody nose again.May be your hit and run tactics wont work with vietnam

 

[12345]

China can occupy your capital and help to guide your people.

trust me, we can create job opporunties, build schools roads hospitals for your people.

hahaha ......lol
these are the words of a chinese living ina democratic australia......

 

[chinapakistan]

Yes.....China beat India.But again tons of chinese soldiers unprovokedly attacked few border posts of IA. Again when India flexed its muscle,Chinese ran away.... A great history to boast about....
anyways,chinese are good in tactics.(like hitting a son and when his dad comes,running away )

And regarding Taiwan,instead of words,the situation puts everything in detail.You should judge your own strengths.

by the way.....
Taiwan is weaker than Vietnam.means,you should give it a try.If taiwan becomes any stronger than vietnam,you will have a bloody nose again.May be your hit and run tactics wont work with vietnam

Typical indian logic, india lost a war is bcoz bla bla bla. Lost is Lost.
China drawback at that time is bcoz Soviet and US, not so called indian flexed its muscle .etc .etc.

Troll mode:
Even we consider China lost all the war with the other nations, at least we beat indian, so indian is weak than any other nation on this planet.

 

[12345]

Typical indian logic, india lost a war is bcoz bla bla bla. Lost is Lost.
China drawback at that time is bcoz Soviet and US, not so called indian flexed its muscle .etc .etc.

Troll mode:
Even we consider China lost all the war with the other nations, at least we beat indian, so indian is weak than any other nation on this planet.

Thats true.India is militarily weaker than all. May be thats why it split your brother pakistan into half despite US,Chinese,UK,Iranian and Saudi support....lol
Indian military never won any war

And about your rant: China drawback at that time is bcoz Soviet and US, not so called indian flexed its muscle .etc .etc.

Pentagon released its declassified documents few years back.It clearly stated that US presured India not to use airforce.and it also said that US meddled to let chinese walk away.else chinese would have been

If my memory serves me right,US was an ally of china then.No wonder US saved its chinese puppet.

 

[Iggy]

You got brainwashed by your history textbook, aren't you?

Not as much as got brainwashed by your party class

India deployed troops to the Sri Lanka civil war, eventually even got your own PM killed.

India deployed troops on request of Sri Lankan govt to stop fighting between Sinhalese and Tamilians..we were not there to capture Srilanka..Surely it caused us the like of our PM but we didnt abandend our neighbor when they need help

India illegally invaded and occupied part of Pakistan and forced the formation of Bangladesh.

You have to learn history about the conflict between Bangladesh and Pakistan and genocide occured there and also about the refugees flow towards India..Then came back and preach me..

Let's also don't forget about the fact that Sikkim is still illegally occupied by india.

Sikkim is an Intergral part of India and your govt recognizance it as a part of India ..are you bold enough to question your govt stand?? I dont think so??

 

[chinapakistan]

Sikkim is an Intergral part of India and your govt recognizance it as a part of India ..are you bold enough to question your govt stand?? I dont think so??

Just like you questioned you gvot recognized that tibet and taiwan is apart of china in your other post.

 

[Iggy]

Just like you questioned you gvot recognized that tibet and taiwan is apart of china in your other post.

Which post show me where i did that??i dare you..and also i can question my government and opposes its decision..its a right of me given by my country .Pretty cool isnt it??

 

[jbond197]

Which post show me where i did that??i dare you..and also i can question my government and opposes its decision..its a right of me given by my country .Pretty cool isnt it??

lol! I believe that's the final nail on the coffin, mate!