Defence Budget 2022 Puts Spotlight On R&D in Defence; Reserves 68% of Capital Budget For Domestic Industry

In the Union Budget 2022-23 on Tuesday, a total of Rs 5.25 lakh crores has been allocated to the Defence Ministry and the Services this year. Overall, the budgetary allocation is increased by Rs 47,000 crores from last year's allocation of Rs 4.78 lakh crores which is around 10% compared to the last year. While the announcement to reserve 68% of the capital procurement budget for domestic industry is towards indigenization, the finer aspect of the budget is the focus on R&D.