China going to increase defense budget amid border dispute, where does India stand against Dragon
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Beijing : Amidst the ongoing border dispute with India, the neighboring country China is going to increase its defense budget. According to media reports, China has indicated to increase its defense budget on Saturday, citing ‘complex security challenges’ ahead of its annual parliament session. During the Parliament session, information about new ministers including the names of Prime Minister Li Keqiang’s successor may come to the fore. The budget session of the Chinese Parliament began on Saturday with the meeting of the top advisory body ‘Chinese People’s Political Consultative Conference’ (CPPCC). At the same time, the meeting of the National Legislature ‘National People’s Congress’ (NPC) will start from Sunday.
Li Qiang can become the new Prime Minister
More than 5,000 delegates and consultants will participate in the week-long sessions. During this, China will formally announce its new cabinet and top official leadership. There is a possibility that during this time the name of Li Qiang, close to President Xi Jinping, can be announced as the successor of Chinese Prime Minister Li Keqiang. Barring President Xi Jinping (69), all top leaders will be replaced as per the tradition of changing the leadership team every 10 years.
Defense budget was $230 billion last year
Before the start of the NPC session, spokesman Wang Chao signaled an increase in the country’s defense budget, which totaled $230 billion after a 7.1 per cent increase last year. America’s defense budget is $ 777.1 billion, after which China’s defense budget is the second largest defense expenditure. While not disclosing the amount of the budget, Wang said that information about it will be formally given at the NPC on Sunday.
Where does India stand
Finance Minister Nirmala Sitharaman has allocated a total budget of Rs 5.94 lakh crore to the defense sector for the year 2023-24 in the Union Budget on 1 February 2023. At the same time, last year India’s defense budget was more than Rs 5.25 lakh crore. This was 13.31 percent of the total budget. This includes an amount of Rs 1.19 lakh crore for defense pension. This budget was about 10 percent more than the previous year. For the last several years, the Government of India is increasing its defense budget.
China’s budget is 4 times more than India’s
According to a data released by the World Bank regarding China’s defense expenditure, in the year 2021, China’s military expenditure was $ 293.35 billion. At the same time, India spent $76.6 billion on defense during the period under review, which is 4 times less than China’s defense budget.
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