New Delhi, Nov. 4 -- India's defence budget for the financial year 2026-27 has been increased to a record Rs 7.85 lakh crore, including a capital outlay of Rs 2.19 lakh crore for modernisation and capital acquisitions, according to Defence Minister Rajnath Singh.

The government aims to increase defence production to Rs 3 lakh crore and defence exports to Rs 50,000 crore by 2029, Singh said.

Chairing a meeting of the Ministry of Defence's Consultative Committee on 'Modernisation of Indian Defence Forces' in Jaisalmer, Rajasthan, on Tuesday, Singh highlighted that the increased allocation reflects the government's commitment to strengthening domestic defence manufacturing and meeting the operational requirements of the armed forces, as re...