Budget 2024: Ministry of Defence Gets Rs 6.2 Lakh Crore, DeepTech to Drive Growth
Finance Minister Nirmala Sitharaman revealed during the Interim Budget presentation in Parliament on Thursday that the Ministry of Defence in India has been allocated a budget of Rs 6.2 lakh crore, marking a 4.3% increase from the previous year. This substantial budget allocation, which constitutes a major portion of the interim budget, aims to strengthen the defence forces and promote self-sufficiency.
One notable aspect of this year’s defence budget is the introduction of a new scheme that focuses on leveraging DeepTech technologies for defence purposes. DeepTech, short for deep technology, encompasses a wide range of cutting-edge advancements involving AI, ML, robotics, nanotechnology, biotechnology, and quantum computing. These technologies are known for their ability to tackle complex problems and push the boundaries of what is currently possible.
The use of DeepTech in the defence sector is increasingly important due to the evolving nature of modern combat zones. Countries around the world are employing AI and ML for military logistics planning, utilizing AI-powered missiles, and even developing AI-powered fighter jets. Robotics is also becoming more prevalent in armed forces globally. Given the advancements made by technologically advanced militaries, it was inevitable for India’s defence sector to follow suit.
The increased budget allocation is in line with the government’s focus on digitization, modernization, and promoting self-sufficiency. This funding will support contractual commitments, resource allocation for modernization efforts, salary increments, pension funds, and other strategic requirements. Additionally, the Ministry of Defence aims to foster strategic collaborations with domestic industries to enhance innovation and production capabilities.
The emphasis on DeepTech in the defence sector aligns with the growing interest among investors and entrepreneurs seeking to create disruptive solutions with long-term impact. By leveraging these advanced technologies, India’s defence forces can stay ahead of the curve and maintain a competitive edge.
In conclusion, the Ministry of Defence’s increased budget allocation for 2024, along with the focus on DeepTech technologies, signals India’s commitment to strengthening its defence capabilities. With the integration of AI, ML, and other cutting-edge innovations, the country aims to enhance efficiency, address challenges, and foster strategic collaborations with domestic industries to promote self-sufficiency and achieve ‘atmanirbharta’ in the defence sector.
