SOURCE: INDIASPEND The year 2015 witnessed a hike of nearly 10% in India’s defence budget, from Rs. 2.2 lakh crore ($33 billion) in 2014-15 to Rs. 2.4 lakh crore ($36 billion). Money for capital expenditure—to buy new equipment—rose 15% over the previous year, but much of this was set aside for expensive imports, as this […]
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