Kiran Shetty, Feedback Consulting
Published: October 31, 2016
- India is the 3rd largest armed forces and 6th largest defense spender in the world.
- India spends around 1.5-2% of its GDP on Defense.
- According to the FY17 (2016-17) Defense budget, 35% of its total Defense budget has been allocated for the capital expenditure.
- The budget allocation for Defense has been growing at a CAGR or 8.2% over the last 4 financial years.
- Most of the times, the actual spending has been short of budget estimates, mostly due to delays in project approvals.