India’s defence budget and capital expenditure: New Delhi, 14 October 2025 India’s defence modernisation drive has gathered formidable pace in FY 2025–26, with the Ministry of Defence (MoD) already having spent over 50% of its allocated capital budget by the end of September. According to official data released by the Press Information Bureau, the MoD has utilised ₹92,211.44 crore, which constitutes 51.23% of the total ₹1.8 lakh crore capital outlay earmarked for the current financial year.