LF24-728x90-WEB-240202-01Following the news that Indian Finance Minister Nirmala Sitharaman presented the interim budget ahead of the general elections to be held later this year; Rouble Sharma, Defense Analyst at GlobalData, offers her view:

“India has unveiled an interim budget, which is strategically aimed at sustaining essential operations until a comprehensive budget can be presented. The Indian Ministry of Defense (MoD) has been allocated a substantial budget of $55.4 billion (INR 4.6 lakh crore) for the fiscal year 2024-2025, excluding pensions and civilian expenses. This interim defense expenditure, inclusive of pensions, stands at $75.7 billion (6.2 lakh crore).

“An allocation of $21 billion is earmarked for the acquisition expenditure of new military platforms and upgrades. This signals a strategic focus on enhancing and modernizing the capabilities of the armed forces, aligning with the evolving geopolitical landscape. The recently approved purchase of 31 armed MQ-9B SkyGuardian drones from the US reflects India’s dedication to integrating cutting-edge technologies into its defense infrastructure. The Indian Navy is also advancing its capabilities with the potential acquisition of 26 Rafale Marine aircraft, as France submits a detailed bid.

“Moreover, the announcement of a new scheme to strengthen deep technologies (deep-tech) for defense purposes and expedite ‘atmanirbharta’ (self-reliance) reflects the government’s intent in the interim budget. Such initiatives will help foster innovation, research, and development within the defense sector, aligning with the broader goal of achieving self-reliance in critical defense technologies.

“Notably, programs like the LCA-Mk2 and Future Infantry Combat Vehicle (FICV) to be developed under the ambit of the ‘Make in India’ initiative suggest a forward-looking approach, demonstrating the nation’s commitment to building a robust, self-sufficient defense industry capable of meeting contemporary challenges.

“While the final budgetary picture will emerge with the passing of the full budget in June-July this year, this interim allocation offers a glimpse into India’s current defense priorities. Balancing between personnel costs, efficient modernization, and emerging technology adoption will be the main challenges that the government will have to navigate.”

For Editorial Inquiries Contact:
Editor Kym Bergmann at 
For Advertising Inquiries Contact:
Director of Sales Graham Joss at 


Please enter your comment!
Please enter your name here