Ministry of Finance

Posted On: 01 FEB 2019 1:17PM by PIB Delhi

₹ 3,05,296 crore have been provided in the Budget Estimates for 2019-20, compared to ₹ 2,82,733 crore provided in 2018-19 Budget Estimates. The figures were revised to ₹ 2,85,423 crore in the Revised Estimates of 2018-19. While presenting the Interim Budget 2019-20 in Parliament today the Union Minister for Finance, Corporate Affairs, Railways and Coal Sh. Piyush Goyal said “Our Defence Budget will be crossing ₹ 3,00,000 crore for the first time in 2019-20. For securing our borders and to maintain preparedness of the highest order, if necessary, additional funds would be provided.”

On the issue of strengthening Defence and National Security, the Interim Budget 2019-20 states that our soldiers protect our borders in tough conditions and they are our pride and honour. The Finance Minister Sh. Goyal said that due care has been taken of their honour. He said that the issue of One Rank One Pension (OROP) which was pending for the last forty years has been resolved. He said “The previous Governments announced it in three budgets but sanctioned a mere  ₹ 500 crore in 2014-15 Interim Budget; in contrast we have already disbursed over ₹ 35,000 crore after implementing the Scheme in its' true spirit. The Government also announced substantial hike in the Military Service Pay (MSP) of all service personnel and special allowances given to Naval and Air Force personnel deployed in high risk duties.”

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GG/DSM/RM/YB/rv

Defence budget increase crosses historic threshold, signalling enhanced funding and pension and pay measures for service personnel. Provision for Defence expenditure in the Interim Budget 2019-20 is increased to Rs. 3,05,296 crore, crossing Rs. 3,00,000 crore, with additional funds to be provided if necessary to secure borders and maintain preparedness; the Budget also reports resolution and substantial disbursement under One Rank One Pension and announces substantial increases in Military Service Pay and special allowances for high risk naval and air force duties.