New Delhi: Union Finance Minister Nirmala Sitharaman announced in her Budget speech on Tuesday in the Lok Sabha that 68 per cent of the Research and Development budget in Defence will be earmarked for Make In India. She also said that in 2021-22 the figure stood at 58 per cent.
" The Government is committed to the goal of Atma Nirbhar Bharat in Armed Forces," said Sithraman. She said that the Government is committed to reducing defence imports.
She also said that 5 per cent of the Universal Service Obligation (USO) Fund would be allotted for Research and Development and up-gradation of technology. "Contracts for laying of optical fibre net to all villages under BharatNet to be provided under PPP mode," she added.
Further, she noted that risks of climate change are the strongest externalities for the world and a low carbon development strategy would open employment opportunities.
(With agency inputs)