Union Budget 2020 was announced by Finance Minister Nirmala Sitharaman on Saturday. In her speech that lasted over 2 hours and a half hours, the FM spoke on tax slabs, GST, 5 trillion economy amongst other things. Like every budget, reallocation of funds to ministries was one in the Budget 2020.
Here are the top 10 ministries as per funds allocated in the Union Budget 2020
Defence Ministry - Rs 4,71,378 crore
With Rs 4,71,378 crores allocated, the Ministry of Defence under Rajnath Singh tops the list of ministries with highest fund allocation. Defence Ministry that takes care of the Indian Armed forces including the Army, Navy and the Air Force, divides the funds allocated into 3 broad categories.
1. Pension: Most part of the funds allocated to the Defence Ministry is spent on the pensions of the retired defence personnel.
2. Maintenance: Maintenance includes taking care of the assets. These assets could be the soldiers and their salaries and perks or they could be the armoury, tanks, missiles and other machinery.
3. Procurement and Modernisation: Procurement of new weapons and technologies and modernising of the armed forces is done through this part.
Home Ministry -- Rs 1,67,250 crore
Union Home Minister Amit Shah's ministry has been allocated funds worth Rs 1,67,250 crore. The Ministry of Home Affairs (MHA) or Home Ministry is a ministry of the Government of India. As the interior ministry of India, it is mainly responsible for the maintenance of internal security and domestic policy.
Ministry of Agriculture & Farmers' Welfare -- Rs 1,42,762 crore
The Ministry of Agriculture and Farmers' Welfare, a branch of the Government of India, is the apex body for formulation and administration of the rules and regulations and laws related to agriculture in India. The three broad areas of scope for the Ministry are agriculture, food processing and co-operation. The current Minister is Narendra Singh Tomar.
Ministry of Consumer Affairs, Food and Public Distribution -- Rs 1,24,535 crore
The Ministry of Consumer Affairs, Food and Public Distribution is a government ministry of India. The Ministry is headed by a Cabinet rank minister. The current Minister is Ram Vilas Paswan.
Ministry of Rural Development -- Rs 1,22,398 crore
The Ministry of Rural Development, a branch of the Government of India, is entrusted with the task of accelerating the socio-economic development of rural India. Its focus is on health, education, drinking water, housing and roads. Minister of Rural Development Affairs is also Narendra Singh Tomar.
Ministry of Human Resource Development -- Rs 99,312 crore.
The Ministry of Human Resource Development, formerly Ministry of Education, is responsible for the development of human resources in India. Current Minister of Human Resource Development is Ramesh Pokhariyal.
Ministry of Road Transport and Highway -- Rs 91,823 crore
The Ministry of Road Transport and Highways is a ministry of the Government of India, that is the apex body for formulation and administration of the rules, regulations and laws relating to road transport, transport research and in also to increase the mobility and efficiency of the road transport system in India. The Minister of Road Transport and Highways is Nitin Gadkari. .
Ministry of Railways -- Rs 72,216 crore
The Ministry of Railways is a ministry in the Government of India, responsible for the country's rail transport. The ministry operates the state-owned Indian Railways, an organisation that operates as a monopoly in rail transport and is headed by the Chairman of Railway Board. Current Minister of Railways is Piyush goyal.
Ministry of Health and Family Welfare -- Rs 67,112 crore
The Ministry of Health and Family Welfare is an Indian government ministry charged with health policy in India. It is also responsible for all government programs relating to family planning in India. The Minister of Health and Family Welfare holds cabinet rank as a member of the Council of Ministers.
Ministry of Housing and Urban Affairs -- Rs 50,040 crore
Ministry of Housing and Urban Affairs, Government of India, is a federal ministry with executive authority over the formulation and administration of the rules and regulations and laws relating to the housing and urban development in India. Minister of Housing and Public Affairs is Hardeep Singh Puri.