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Indian defence spending up by 28.2 pc

NEW DELHI: India on Tuesday raised defence spending by 28.2 percent for the year starting April 1, the biggest-ever increase for the world's fourth-largest military.

Finance Minister Yashwant Sinha allocated Rs 585.87 billion ($13.62 billion) in the budget for 2000/2001 (April-March), up from last year's Rs 456.94 billion.

"This represents the largest-ever increase in defence budget in a single year," Sinha said in his budget speech to the lower house of parliament.

Analysts said the sharp rise in defence allocation signalled the Hindu nationalist-led coalition government's resolve to re-equip the armed forces.-Reuters