Defence budget increased to over Rs 3 lakh crore in fiscal year 2019, says FM Piyush Goyal

In a bid to secure the Indian borders, the Centre on Friday enhanced the budget outlay for defence sector higher than Rs 3 lakh crore. Addressing his Budget 2019 speech in Parliament, Interim Finance Minister Piyush Goyal further said, "If necessary additional funds will also be provided".

Talking about the BJP government’s achievements in the defence sector, Goyal mentioned the One Rank One Pension (OROP) scheme that had been implemented by the Centre.

"The previous governments announced it in 3 budgets, but sanctioned a mere Rs 500 crore in the interim budget of 2014-15. This had been pending for 40 years, but has been implemented by us. In contrast, we have already disbursed over Rs 35,000 crore as part of OROP after implementing it in the true spirit," Goyal was quoted as saying.

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"The govt has also announced substantial hike in the military service pay of all service personnel and special allowances given to naval and airforce personnel deployed in high-risk areas," the finance minister added.

The Budget 2019 is the last Parliament session of the Narendra Modi-led BJP government before the Lok Sabha Elections 2019 due by May. The first phase of the Budget session that started on January 31, will continue till February 11. The second session will take place after the General Elections 2019.