ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Black Money-Lagged Response

Expenditure on defence is budgeted at Rs 4,001 crore in 1981-82, an increase of Rs 496 crore or 14.2 per cent over the previous year. This is almost certainly the largest absolute increase in any year so far. Defence expenditure, which will constitute 16.4 per cent of the government's total expenditure in 1981-82, would thus appear to have escaped the rigours of shortage of resources. In fact, given the government's assessment of the gravity of the threat posed by the US arms supplies to Pakistan and its own ambitious programme of armaments purchases

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