NEW DELHI: India will spend a record amount on infrastructure and defence, the finance minister said in her national budget speech on Sunday (Feb 1), with plans for high-speed rail, submarines and fighter jets.

New Delhi plans to spend US$133 billion on infrastructure and US$85 billion on defence, a respective rise of around nine and 15 percent compared to last year's budget.\2 Data centres, artificial intelligence, and the mining and processing of rare earths will also receive government support, Finance Minister Nirmala Sitharaman told parliament.

She said public spending on infrastructure had increased dramatically from around US$21 billion (2 trillion rupees) in 2014-15 and that it was now at an "all-time high".

The defence spending hike comes after a four-day conflict with arch-rival Pakistan last May that killed at least 70 people, and saw both sides make extensive use of drones as well as intense missile and artillery barrages..

Source

https://www.channelnewsasia.com/asia/india-budget-pledges-record-infrastructure-and-defence-boost-5899576

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India budget pledges record infrastructure and defence boost

India budget pledges record infrastructure and defence boost