Interim Budget 2024: Govt to launch new scheme to fuel deep-tech innovation in defence

During the interim Budget 2024-25 presentation, Finance Minister Nirmala Sitharaman announced the introduction of a new scheme aimed at bolstering deep tech in the defense sector.

Sitharaman also outlined the government's intention to encourage both public and private investments in post-harvesting agriculture activities. Furthermore, she emphasised the expansion of the application of nano DAP on various crops in different agri-climatic zones.

Sitharaman disclosed plans for the construction of three major railway corridors, including one for cement transportation, and the conversion of 40,000 normal railway bogies to Vande Bharat standard.


Defence Minister Rajnath Singh in October 2023 said that India needs stronger armed forces with modern equipment in order to become a developed country by 2047 when we celebrate 100 years of Independence.

"If we wish to create a developed nation, we will need stronger armed forces with modern arms and equipment. Therefore, it is necessary to effectively utilisefuel deep-tech innovation in defence

the financial resources available to us," Singh said.