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The Defence Ministry on Friday released its year-end report, summarising major developments in the Indian Army, defence budget, and the ambitious Gaganyaan programme.
The defence budget for Financial Year (FY) 2024-25 reached a record allocation of Rs 6.22 lakh crore ($75 billion), marking an 18.43 per cent increase from FY 2022-23. The key spending includes 27.66 per cent for capital expenditures, prioritising domestic industry procurement, 30.66 per cent for pay and allowances, and 22.70 per cent for pensions. The allocation represents 12.9 per cent of India’s total budget estimate.
The Gaganyaan programme aims to demonstrate human spaceflight capabilities in low Earth orbit. Four Indian Air Force officers were honoured with ‘Space Wings’ in February 2024 by Prime Minister Narendra Modi.
Two astronauts, Group Captain Shubhanshu Shukla and Group Captain Prasanth Balakrishnan Nair, are undergoing space training at NASA for the Axiom-4 mission to the International Space Station in 2025.