India's gross defence budget expected to reach $ 112 billion by FY 2027, says report
Updated : May 27, 2018 03:38 PM IST
According to the joint study report, India's gross defence budget is expected to reach "$ 112 billion by financial year 2027 from $ 45 billion announced by the government of India in 2018-19.
the report pointed out that the country's capital expenditure for defence procurement is expected to exceed $ 250 billion over the next 10 years, primarily to replace the Soviet-era vintage equipment and meet the growing modernisation needs of the Indian armed forces.
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