The Israel Defense Forces parade was an event during the first 25 years of Israel's existence to celebrate its military might. I
t was cancelled after 1973 due to financial concerns.The Israel Defense Forces still has weapon exhibitions country-wide on Independence Day, but they are stationary and have a limited scale.
https://en.wikipedia.org/wiki/Israel_Defense_Forces_parade
I think we should follow the Israeli example and have National Day Parades only on special occcasions , like every 5 years of independence.
Another way is to have a small scale Best SAF Units Parade outside the Istana on National Day and for the President and PM to recognise their achievements so that the the huge amount of resources can be better utlised on other more pressing matters.