ABSTRACT
The then Union Finance Minister, Pranab Mukherjee presented the defence budget on 16 March 2012. While defence expenditure rose by 18 per cent, the budget for capital acquisition was hiked by 15 per cent. The budget stood at INR 1, 93,407 million, which was 1.9 per cent of the Gross Domestic Product (GDP) and 12.97 per cent of the union government’s total expenditure for the year.
