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India hikes defence spending

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India hikes defence spending
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New Delhi: India Thursday hiked defence spending to Rs.203, 672 crore, marking an increase of five percent over the outlay of 2012-13 at Rs.193, 407 crore.

Finance Minister P. Chidambaram announced the hike during his budget speech in Lok Sabha.

Of the total defence outlay for 2013-14, he said, Rs.86,741 crore will be for capital expenditure.

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