New Delhi (Agencies): The Defence Ministry is likely to spend its full quota of Rs 60, 000 crore for capital acquisitions in the current fiscal.

The big ticket deals such as the US-made C-130J transport planes, the preliminary design contract with Russia for the fifth generation fighter aircraft (FGFA) and procurement of Akash missile defence systems have helped the ministry to attain the significant milestone, Defence Ministry officials said.

This year's total defence budget was Rs 1.47 lakh crore of which Rs 87,344 crore was marked for revenue expenditure and the remaining was for capital expenditure.

Officials said that due to the accelerated modernisation programme in the last five years, the capital expenditure has seen a three-fold increase to Rs 2.27 lakh crore for the period between 2005 and 2010.

The value of 687 contracts signed during this period was Rs 2.32 lakh crore.

"From 1998 to 2004, the expenditure under the capital head was Rs 82,297 crore, whereas in the next six years- from 2004-05 to 2009-10- it went up by three times to touch the mark of 2,27,566 crore," they said.

During the last fiscal, the ministry had for the first time crossed the Rs 50,000 crore mark.

Officials said that over the years the money allocated under the capital expenditure has seen a steady increase except for 2005-06 and 2008-09, when a bulk of 25 per cent of the money under the capital head remained unused due to the cancellation of major deals.

India is currently the 10th largest defence spender in the world with an estimated two per cent share of global defence expenditure.