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Question

How much Foreign Direct Investment (FDI) in country's defence sector was proposed in the Union Budged 2014-15 presented on 10 July, 2014?

A
51%
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B
49%
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C
29%
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D
10%
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Solution

The correct option is B 49%
  • As per the proposed Union Budget, the government has raised military spending for 2014-15 to Rs 2.29 lakh crore, marking an increase of 12.5 per cent over the previous fiscal.
  • This has opened the domestic defence industry to 49 per cent foreign direct investment thus boosting the development of indigenous hardware.

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