India’s expenditure on security alone could reach $1 billion (bn) by 2019 assuming the Centre spends even 10 per cent of its budget of $1 bn allocated for AMRUT (Atal Mission for Rejuvenation and Urban Transformation) and Smart Cities Mission, according to a recent ASSOCHAM-Mahindra SSG joint study.
India needs to spend at least $4 bn in public-private partnership (PPP) mode to address cybercrime related challenges at both individual and organisational levels including cyber sexual harassment, cyber bullying, information theft, defacing websites, inflicting servers with viruses and others, noted the study titled ‘New Age Crime’ conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) jointly with Mahindra SSG.
The investment amount of $4 billion could be spread across upgrading technology, training cyber professionals, counselling of victims, creating cyber cells and others
With a view to increase the level of security across the country, India must spend at least $15 per citizen on homeland and border security on public-private partnership basis with total expenditure amounting to $15 billion (bn) by 2019, suggested the ASSOCHAM-Mahindra SSG study.
This will compliment India’s existing scheme of insurance for every citizen, as it would be a proactive step, it added. United States of America (USA) had incurred losses worth $3 trillion during 9/11 attacks while Al-Qaeda had spent only about $0.5 million for executing its plan. As such, post 9/11 the US increased its expenditure on security. It had allocated $1,900 per citizen for its 318 million people with a total budget of $602 bn in 2015.
