Latest news with #ManojNaravane
Hindustan Times
18 hours ago
- Business
- Hindustan Times
Defence spending is insurance against war, says former Army chief Naravane
Former Chief of Army Staff General Manoj Naravane (retd) on Monday described defence expenditure not as wasteful spending but as a necessary 'insurance premium' to ensure the nation is not compelled into war. Gen. Naravane further elaborated that, unlike conventional insurance, which pays out after a crisis, defence spending aims to prevent catastrophe. (HT) Speaking at the launch of his book Cantonment Conspiracies in Pune, Gen. Naravane stressed the importance of remaining engaged in an interconnected world. 'A Roman thinker once said, 'If you want peace, prepare for war.' Peace is the bedrock of progress and prosperity. Without it, factories won't function, children won't receive quality education, and investments, domestic or foreign, will not come,' he said. Addressing criticism that defence budgets divert funds from welfare, he argued, 'Some say the money could be used to build schools or fund healthcare. But national security cannot be outsourced; it is the government's foremost responsibility. Defence spending is like paying an insurance premium: the greater the risk, the higher the premium. Similarly, the more serious the threats a nation faces, the more it must invest in its defence.' Gen. Naravane further elaborated that, unlike conventional insurance, which pays out after a crisis, defence spending aims to prevent catastrophe. 'If a nation appears weak, adversaries will attempt to exploit that. Adequate preparedness ensures deterrence,' he said. Citing the Russia-Ukraine conflict, he argued that Ukraine's underinvestment in defence enabled Russian aggression in 2022. 'Within a year, the World Bank estimated the cost of reconstruction at $400 billion. Had Ukraine spent even a fraction of that on military preparedness earlier, it might have averted such devastation,' he said. He also noted that defence spending fuels economic growth. 'It does not disappear into a void. It circulates within the economy, creating jobs, boosting industries, and fostering innovation,' he said. For FY 2025–26, the Union Budget has allocated ₹6.81 lakh crore to the Ministry of Defence, marking a 9.53% increase over the previous year. At 13.45% of the total budget, it remains the single-largest allocation among all ministries.
Hindustan Times
a day ago
- Business
- Hindustan Times
‘Not party's ideology': Punjab AAP chief distances from Sisodia's ‘saam daam' remark
Former Army Chief General Manoj Naravane emphasized that defense spending is essential for national security and development during the launch of his book in Pune. He argued that such expenditure acts as an "insurance premium" to prevent war and highlighted the importance of preparedness, using Ukraine's situation with Russia as a cautionary example. The Union Budget allocates Rs 6,81,210.27 crore for defense in FY 2025-26.
Hindustan Times
a day ago
- Business
- Hindustan Times
Akhilesh Yadav submits affidavits to ECI, alleging voter deletions in UP
Former Army Chief General Manoj Naravane emphasized that defense spending is essential for national security and development during the launch of his book in Pune. He argued that such expenditure acts as an "insurance premium" to prevent war and highlighted the importance of preparedness, using Ukraine's situation with Russia as a cautionary example. The Union Budget allocates Rs 6,81,210.27 crore for defense in FY 2025-26.
Hindustan Times
a day ago
- Business
- Hindustan Times
Prez Putin dials PM Modi, keeps him in the loop on Alaska meeting with Trump
Former Army Chief General Manoj Naravane emphasized that defense spending is essential for national security and development during the launch of his book in Pune. He argued that such expenditure acts as an "insurance premium" to prevent war and highlighted the importance of preparedness, using Ukraine's situation with Russia as a cautionary example. The Union Budget allocates Rs 6,81,210.27 crore for defense in FY 2025-26.
Hindustan Times
a day ago
- Business
- Hindustan Times
Defence spending like an insurance premium needed to protect country: Ex-COAS Naravane
Pune, Former Chief of Army Staff General Manoj Naravane on Monday said defence expenditure is not a wasteful expense, but it is an insurance premium paid to ensure that war is not forced upon the nation. Defence spending like an insurance premium needed to protect country: Ex-COAS Naravane In the inter-connected world, India cannot remain insular or cut off from global developments, General Naravane said at the launch of his book 'Cantonment Conspiracies' in Pune. "A Roman scholar in the 5th century AD had said that if you want peace, prepare for war. Why do you want peace? Because peace is a precursor and prerequisite for development. We always use these terms together. "If you have a peaceful environment, only then will you flourish. Only then will your factories function, your children receive a good education, and you attract investment, whether domestic or foreign. But if that peace is required, then you have to prepare for war, and defence preparedness does not come cheap. It comes at a cost," he said. He rejected criticism regarding defence expenditure, stressing that national security cannot be outsourced as it is the primary responsibility of the country to secure itself. "Several people often question whether defence expenditure is really worth it. Others call it a wasteful expense. After all, at the cost of one Rafale aircraft, you can build 20 schools and run them for a year," the former Army chief said. "Expenditure on defence is not a waste. It is an insurance premium. Just as all of us have insurance and pay a premium to cater for an unforeseen event. For extensive coverage, a higher premium must be paid. Similarly, the greater the threats to the nation, the more it will have to be spent on defence," he added. Gen Naravane used an insurance analogy to justify the need for defence expenditure. "Your insurance kicks in only when an incident or accident occurs. In the case of defence expenditure, it prevents the incident from happening in the first place. It prevents war. Therefore, it is much more prudent to spend adequately on defence so that a war is not forced upon you. Because if you look weak, or are perceived as weak, then your enemies will take advantage," he added. Citing the example of Russia and Ukraine, the former Army chief said Ukraine had neglected its defence preparedness. "As they were seen as weak, Russia thought of taking advantage. Within a year of the 2022 invasion, a World Bank report estimated reconstruction costs at USD 400 billion. Had they spent even a fraction of that on defence earlier, they may not have faced this situation," he added. He said that money invested in defence keeps circulating and recycling within the economy, which is beneficial for the country's overall growth. Union Budget has made a provision of ₹6,81,210.27 crore for the Financial Year 2025-26 for the Ministry of Defence . This allocation is 9.53% more than the Budgetary Estimate of FY 2024-25 and stands at 13.45% of the Union Budget, the highest among the Ministries. This article was generated from an automated news agency feed without modifications to text.
