From Galwan to 2024: How India's defence budget reflects strategic changes

Defence Budget Expectations: India's defence budget from 2020 to 2024 reflects strategic recalibrations, geopolitical shifts, and economic challenges. With increasing spending patterns driven by modernization imperatives and border tensions, the budget has steadily risen to support defence capabilities. The upcoming Budget 2024 announcement on July 23 will reveal Finance Minister Nirmala Sitharaman's plans for the defence sector. Pushan Sharma from CRISIL projects a continued upward trajectory in defence spending, reaching Rs 621,541 crore by FY25BE, with a focus on military modernization and self-reliance.