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China Army Budget: China spends about four times more than India on the modernization of its forces. On Friday, the Defense Ministry itself presented this figure in the Parliament on the basis of the Sipari report. According to the report of SIPRI, the annual military expenditure of China is 2.93 lakh crores while that of India is only 77 thousand crores.
On Friday, in response to a written question by Lok Sabha MP Nusrat Jahan, Minister of State for Defense Ajay Bhatt said that although India does not keep an account of military expenditure of other countries. According to the annual report of the year 2021 of the Stockholm International Peace Research Center (SIPRI), a global thinktank, America’s military expenditure is about 8 lakh crores.
Defense Ministry cited SIPRI report
Referring to the SIPRI report, the Defense Ministry said that China’s military expenditure is 2.93 lakh crores (293351 crores) while India’s military expenditure is 76598 crores. According to the SIPRI report, India ranks third after the US and China in terms of military expenditure worldwide.
Incentive given to indigenous and startups
According to the Minister of State for Defense, about 41 percent of the weapons and military equipment procured for the Armed Forces between 2017-21 were foreign while about 59 percent were made. were taken under Make in India. This year the target of Make in India is expected to increase further. He also told that indigenous undertakings and start-ups are being encouraged under Make in India.
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