Indian Finance Minister Arun Jaitley announced a 10 percent hike in the country’s defence budget for fiscal 2017-2018. According to report the budget has been increased to 2.74 trillion Indian rupees, from 2.49 trillion allocated for last fiscal year. This accounts for 12.78 percent of total government expenditure of 21.47 trillion.More than 0.86 trillion has been allocated for defence capital acquisition for the upcoming fiscal year, against last year’s figure of 0.78 trillion. According to the Economic Times, India’s Defence Ministry had returned 0.36 trillion from the funds allocated due to difficulties in spending the allocated cash.The defence budget now forms 1.62 per cent of the country’s GDP.Indian finance minister said it will provide more for defence budget if required, terming it an important section of the country.Jaitley also announced increases in spending on rural areas, infrastructure and fighting poverty, and sought to assure lawmakers and the country that the economic impact of the government’s cash crackdown would wear off soon.The portion of the budget allocated to capital acquisition for the upcoming fiscal year is just over 0.86tr as compared to previous year’s amount of 0.78tr. Yet, while vowing prudent fiscal management, he also raised his 2017-18 federal deficit target to 3.2pc of gross domestic product to cover his spending promises.India will also ramp up spending on rural areas, infrastructure and fighting poverty, Jaitley said as he unveiled the annual budget, adding the impact on growth from the government’s cash crackdown would wear off soon.India’s heavy military spending and acquisition of weapons threatens Pakistan and regional peace.Efforts to promote regional peace are being hindered by Indian desire to acquire military and strategic weapons.Every country has the right to take measures to strengthen its defence and security but jingoism and war-mongering threaten security and survival of others and therefore, are legitimate sources of concern. Indian policy and decision makers openly claim that their preparations are directed towards China but it is also a matter of record and history that Beijing never carried out aggression against any country. It is quite obvious that a country, which is ready to spend hundreds of billions of dollar for regional infrastructure creation would never indulge in wars or conflicts. This being so, Pakistan is the only target of India’s military preparations and present leadership in New Delhi has made no secret of its anti-Pakistan designs and ambitions. Indian government has signed deals to buy new submarines, howitzers and fighter jets and it is also upgrading its missile and nuclear arsenal. Pakistan has stated time and again that it doesn’t want to indulge in arms race but it is also obvious that the country cannot remain oblivious to potential threats to its security and very existence. In these circumstances, Pakistan is being forced to take steps to maintain its deterrence. The both countries are nuclear armed and cannot live in an environment of hostility towards each other and they should take steps to promote peace in the region.
