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

51%

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49%

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29%

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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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