India goes for huge defence spending

India yesterday enhanced annual budgetary allocation for defence expenditure by 4.5 per cent to Rs 2.03 lakh crore for the financial year 2013-14, setting at rest speculation that the country’s slowing economic growth could affect its military acquisitions.

Of the total defence outlay for 2013-14, Finance Minister P Chidambaram, who presented his budget in Parliament in the morning, said Rs 86,741 crore will be for capital expenditure in defence sector.  Read more…

Source: The Daily Star

Burma Parliament Approves Controversial Defense Budget

RANGOON—Burma’s Union Parliament approved the government’s US $1.15 billion military budget on Friday with an overwhelming majority. More than $600 million will be spent on military hardware, accounting for over half of the controversial budget this year, according to documents obtained by The Irrawaddy.

In a joint vote by the Upper House and Lower House in Naypyidaw, 445 parliamentarians voted in support of the proposed military budget, 60 voted for a reduction of the budget and 7 MPs abstained.  Read more…

Source: The Irrawaddy

India hikes military spending 14 percent

India Thursday hiked its military spending to Rs 203,672 crore (Rs 2.03 trillion/$37 billion), an increase of five percent over the Rs.193,407 crore outlay for 2012-13 but an increase of 14 percent in real terms.

The budget hike, in real terms, amounts to Rs. 25,168 crore ($4.57 billion) over the revised estimates of Rs 178, 504 crore for the fiscal ending March 31. It translates into 14 percent increase.

The finance ministry had reduced the defence ministry’s capital expenditure in the current fiscal by Rs 10,000 crore in its revised estimates, pegging it at Rs 69,579 crore from the initial figure of Rs.79,579 crore.  Read more…

 

Source: Deccan Herald

India reins in defence spending

NEW DELHI: India hiked its defence spending by only five per cent on Thursday for the next financial year, far below previous increases with the military one of the apparent losers in the 2013/2014 budget.

Finance Minister P Chidambaram raised defence spending to 2.03 trillion Indian rupees ($37.45 billion) for the fiscal year starting April 1, up 5.2 per cent from 2012-13 when the budget stood at 1.93 trillion Indian rupees.

In 2012-13, the increase had been 17 per cent and the year before that spending was bumped up by 12 per cent to fund a modernisation programme that has turned India into the world’s biggest arms importer.  Read more…

 

Source: Dawn.com

Defence spending in the Middle East

The defence industry is gathering in Abu Dhabi for the biggest military trade show in the Middle East.

Last time, it took place at the start of the Arab Spring.

Two years on, how has defence spending changed among Gulf states some of the biggest spenders in the world?

And where are defence companies targeting their sales in a new-look Middle East?

Source: BBC News