Tuesday, May 18, 2021

Indian Navy Eyes 18% of Defence Budget For New Acquisitions

The Indian Navy is eyeing a larger share in the defence budget in light of major acquisitions inclusive of advanced warships, aircraft carriers, stealth submarines and fighter aircraft. The Indian Navy stated on Tuesday that it will urge the government for a higher stake in the defence budget aiming at 18% of the combined budget for the three forces. In the current fiscal year, the share of Indian Navy in the defence budget is 13.66%.

Navy to ask for additional funds

Vice Chief of the Indian Navy, Vice Admiral G Ashok Kumar stated that the Indian Navy will seek additional funds during the revised estimates that come in later this year. Even the Naval Chief on various occasions expressed Indian Navy’s desire to procure fighter jets and aircraft carriers amid growing challenges from China in the Indian Ocean.

As of now, India has only one aircraft carrier while the other one is being built in Cochin. The Indian Naval Chief stated previously that India needs as much as three aircraft carriers to match China’s Naval might.

INS Vikramaditya to get a dry dock for servicing

On September 28, the Indian Defence Minister will be in Mumbai to commission the second Scorpene class submarine called ‘Khanderi.’ INS Vikramaditya, India’s sole aircraft carrier will also get an aircraft carrier dry dock for repair and servicing. All these acquisitions come at incredibly high costs and that is why the Indian Navy is looking at a larger faction of India’s defence budget.

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