Budget 2021: Defence Sector May Receive Higher Budgetary Allocation, Says HDFC Securities

The defence sector may receive higher budgetary allocation against the backdrop of ongoing military face-off between India and China, HDFC Securities said in a report titled Pre-Budget 2021 Expectations. The central government had hiked the defence budget by six per cent last year to meet the needs of the armed forces; in budget 2020-21, an amount of Rs 4,71,378 crore was allocated to the defence sector, which included expenditure on...