Chinese defense budget rises again The budget for 2020 is $ 17,900 billion (about Rs 13.6 trillion). This is 2.7 times more than India’s defense budget of $ 6690 billion (Rs 4,71,378 crore) this year. Last year, China spent $ 17,761 billion on defense.
At the same time, this is the smallest increase in China’s defense budgets in recent years. It has been pointed out that trade disputes with the US and the Kovid pestilence have wreaked havoc on the Chinese economy.
The draft draft document presented at the Chinese People’s Congress states that the defense budget for this year will reduce the growth rate to 6.6 percent. This is the fifth consecutive year that the budget growth rate is at an all-time high. China tops the list, with 20 million troops. But the US spends the most time on defense. Last year, the U.S. Xinhua, the official Chinese media, reported that China’s budget is one-fourth of the defense budget.
Meanwhile, the Chinese defense budget has been accused of not being transparent. According to the International Peace Research Institute, headquartered in Stockholm, China spent Rs 23,200 crore on defense in the past year. But China’s explanation is that the budget data has been presented to the UN every year since 2007, and how the money came in and how it was spent. People’s Congress spokesperson Zhang Ysui said China spends 1.3% of its GDP on defense and the global average is 2.6%.