Finance & Defence Minister Arun Jaitley on Defence in Budget-2014
"There can be no compromise with the defence of our country. I therefore propose to allocate an amount of ` 2,29,000 crore for the current financial year for Defence.One Rank One Pension.
We reaffirm our commitment to our brave soldiers. A policy of “One Rank One Pension” has been adopted by the Government to address the pension 26 disparities. We propose to set aside a further sum of ` 1,000 crore to meet this year’s requirement.
Modernization of the armed forces is critical to enable them to play their role effectively in the Defence of India’s strategic interests. I, therefore, propose to increase the capital outlay for Defence by ` 5,000 crore over the amount provided for in the interim Budget. This includes a sum of ` 1,000 crore for accelerating the development of the Railway system in the border areas. Urgent steps would also be taken to streamline the procurement process to make it speedy and more efficient.
The country is deeply indebted to the officers and the jawans of the armed forces for having made huge sacrifices to defend its honour. In doing so a very large number of them gave up their lives. It is a privilege for the nation to erect a befitting memorial in their memory. I am happy to announce that a War Memorial
will be constructed in the Princes Park. It will be supplemented by a War Museum. I am allocating a sum of ` 100 crore for this purpose. The Defence Production
In the year 2011 a separate fund was announced to provide necessary resources to public and private sector companies, including SMEs, as well as academic and scientific institutions to support research and development of Defence systems that enhance cutting-edge technology capability in the country.
However, beyond the announcement, no action was taken. Therefore, I propose to set aside an initial sum of 100 crore to set up a Technology Development Fund to support this objective. Internal Security."