India needs a bigger defence budget for next six-seven years, says FM Arun Jaitley

Finance Minister Arun Jaitley said on Tuesday that India needs a bigger defence budget to modernise its armed forces during the next six-seven years. Speaking at the Aaj Tak National Security Summit, Jaitley said government has increased the tax base during the last five years and the money raised from taxes will be used for defence.

Commenting on the use of MIG 21s in the Indian Air Force fleet, Jaitley said, “We don’t have outdated jets in IAF fleet. MIG 21s used in the recent IAF operation were upgraded ones.”

Citing the delay in defence procurement process,  Jaitley said previous governments delayed purchase of jets including Rafale which adversely affected national security. Read More

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