March 2, 1989
India's government has slashed defense spending and diverted funds to fight hunger and illiteracy and provide housing for the homeless. The unprecedented reduction in defense spending was contained in the government's budget for 1989-90, introduced in Parliament by Finance Minister S. B. Chavan. India will spend $133 million less on defense in the 1989-90 fiscal year compared to the previous year, Chavan said. He pledged to spend $1.