Context: India needs to innovate new money-spinners for the defence sector through projects like defence tax, indigenisation and Atmanirbharta.
Need for Innovative Financing Measures for Defence Sector of India (financial challenges in the defence):
Analysing the Budgetary Proposals/Measures for Defence Sector:
Way Forward: Indian defence sector can be financed through following innovative measure-
Conclusion: India needs to ensure no overspend on revenue and pension heads and must strive for 3% of the GDP in defence allocations.