India has the third largest military in the world and is the sixth largest spender in defence. In the below write-up, I have tried to put forward basic facts about Indian Defence Sector and how it has evolved over with time.
Before I begin with the write-up, I will explain few terms which might be new for some readers:
BE – Budget Estimates. When the Union budget is presented in Parliament and passed for the financial year, it’s called the Budget estimates (BE).
RE – Revised Estimates. Estimates done in the middle of the ongoing year.