NEW DELHI, March 16 (IANS): India Friday hiked the Defence Budget for 2012-13 to Rs 1,93,007 crore ($42 billion/Rs.1.93 trillion) to fuel rapid modernisation of its army, navy and air force.
Finance Minister Pranab Mukherjee, who presented the budget in the Lok Sabha, also raised the capital expenditure on the defence forces to Rs 79,579 crore ($17.5 billion).
