Blitz Bureau
NEW DELHI: The Union Budget 2024-25 has allocated Rs 6.22 lakh crore for the Ministry of Defence (MoD), the highest among all the ministries. This is a 4.79 per cent hike over the last year’s allocation, This increase in allocation aims to promote Aatmanirbharta in defence technology and manufacturing, and equip the armed forces with modern weapons/platforms along with the creation of job opportunities for the youth.
While maintaining the allocation made to the MoD during the interim Budget, the Government has earmarked an additional outlay of Rs 400 crore in the Union Budget presented by Finance Minister Nirmala Sitharaman on innovation in defence through the Acing Development of Innovative Technologies with iDEX (ADITI) scheme.
The scheme enables the Defence Ministry to engage with startups/MSMEs and innovators to develop Def-Tech solutions and supply the Indian military with innovative and indigenous technological solutions.
A grant of up to 50 per cent of Product Development Budget with an enhanced limit (maximum) of Rs 25 crore per applicant will be awarded as per the extant iDEX guidelines.
