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Summary
India has increased its defence budget by 24 percent allocating around Rs1,470billion in this regard.Finance Minister Pranab Mukherjee told the Lok Sabha after unfurling the budget for the next fiscal year that the economic growth in 2009-10 may turn out to be higher than 7.2% and added to breach the 10% mark in future. He admitted that the current fiscal year is a challenge for the country, adding that the deficit would stay at 5.5 percent.
