Union Finance Minister Nirmala Sitharaman unveiled the seventh Union Budget for FY 2024–25 of the Modi 3.0 administration shortly after the BJP led NDA government at the Centre took charge for an unprecedented third term under Prime Minister Narendra Modi.
The defence budget has been somewhat reduced by the FM compared to the interim budget. The Modi government is now placing a greater emphasis on employment creation, which they believe is a significant factor in the BJP’s declining number of parliamentary seats.
In order to reduce dependency on defence imports, the government is putting a lot of emphasis on domestic production in this budget, particularly indigenization of the defense industry.
The government is placing a strong focus on domestic production in this budget, especially indigenization of the defense industry, in an effort to reduce reliance on defence imports.
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