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In the Union Budget for 2021-22 presented by Finance Minister Nirmala Sitharaman in the Parliament, the allocation for the Defence services has been increased to ₹4.78 lakh crore compared to Rs4.71 lakh crore in the 2020-21 budget. There is nearly a 19 per cent hike in the capital expenditure and it is the highest-ever increase in the last 15 years.
While presenting the Budget last Monday, Finance Minister Nirmala Sitharaman said, one lakh 35 thousand crore rupees has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
Our correspondent reports that the Finance Minister also announced the proposal to open 100 new Sainik schools.
