Raksha Mantri Rajnath Singh announced that a record 75 percent of the defense capital procurement budget has been earmarked for the domestic industry in 2023-24. In 2023-24, the Ministry of Defence has been allocated a total Budget of 5.94 lakh crore rupees, which is 13.18 percent of the total budget. Capital outlay for modernization and infrastructure development has been increased to 1.63 lakh crore rupees.