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Pakistan approves 6 percent increase in defense budget for critical shortages

The economic situation of Pakistan is not good. Inflation has reached a record level in the country, while the government treasury is also empty. Despite the deteriorating situation, the Pakistani government increased the defense budget by 6 percent. The Pakistani government has raised the defense budget for the current fiscal year to more than 1.45 trillion Pakistani rupees. This decision to increase the budget was taken by the Economic Coordination Committee (ECC) of Pakistan.

Let us tell you that for the current fiscal year last year, the National Assembly approved a defense budget of 1.373 trillion rupees. With the spending limit increased, the defense budget for the next fiscal year may now exceed the previously estimated figure of 1.55 trillion rupees.

The Pakistani government made this decision at a time when the country’s inflation reached its highest level of 64 weeks. While the rupee is heading off the cliff, the prices of petroleum products are setting new records every day. Pakistan’s trade deficit has also increased. At the same time, foreign exchange reserves became empty. Economic analysts fear that the situation in Pakistan may not be the same as in Sri Lanka.

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India’s defense budget: The total amount of India’s defense budget is Rs 5,25,166 crore, of which 1.19 crore is a pension and Rs 1.52 crore is for the modernization of defense services. There was an 11 percent increase in the current fiscal year’s budget compared to last year.

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In a budget presentation in February this year, Finance Minister Nirmala Sitharaman said 25 percent of the amount spent on defense research would go to private industries, start-ups and academies. Its purpose is to develop the military platform and equipment necessary for the country, as well as to manufacture them in the country itself.

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