India’s Defence Spending
(N.Z. Press Association—Copyright) NEW DELHi. March 1. India would spend 2.039.000.000 rupees (about £153.000.000) on defence this year—the equivalent of about £14.000.000 more than last year, the Finance Minister (Mr C. D. Deshmukh) told the Indian Parliament today. Mr Deshmukh, who was introducing his Budget, said the increase was due mainly to normal expansion of the Navy and Air Force. Defence expenditure amounted to 37.5 per cent, of the total Government expenditure for the year. India, he said, was embarking on her second five-year plan “in a reasonably favourable economic climate.” Crop prospects were satisfactory, and the output of food grains had exceeded the plan’s target by more than 4.000,000 tons. The balance of payments for the fiancial year now ending was expected to show a surplus of 350.000,000 rupees compared with a deficit of 40,000,000 rupees last year, he added.,
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Bibliographic details
Press, Volume XCIII, Issue 27909, 5 March 1956, Page 12
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144India’s Defence Spending Press, Volume XCIII, Issue 27909, 5 March 1956, Page 12
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