China hikes defence budget to $175 billion - three times that of India's
BEIJING: China today announced a 8.1 per cent hike in its defence expenditure for this year to a whopping $175 billion, which is over three times higher than India's defence budget + , as it seeks to further advance an ambitious modernisation drive for its military.
The 8.1% increase is higher than last year's announcement, when China upped military spending by 7% over the previous year.
According to a budget report to be submitted to the National People's Congress (NPC) today, the 2018 defence budget will be 1.11 trillion yuan ($175 billion).
China last year increased the defence budget to $150.5 billion. China is the second largest spender on defence after the US. The Pentagon has requested a budget of $686 billion in 2019, up $80 billion from 2017.
The increase of China's defence budget by 8.1 per cent this year, is three times higher than India's latest defence budget of about $46 billion.
Though China announced its military spending at about $150.5 billion last year, observers say it is considerably higher, considering it is now building two more aircraft carriers in addition to the one already in service as well as addition of new jet fighters, including stealth fighter J-20.
The Chinese Navy also expanded its global reach with flotilla ships sailing through the far-off oceans to expand China's influence.
The official media justified the increase to $175 billion, saying although slightly higher than the previous two years, the growth rate is the third time to dip into the single digit since 2013, following 7.6 per cent in 2016 and 7 per cent in 2017.
Rahul Bhatnagar4198 Rahul Bhatnagar-20 hours ago
Whats the big deal? China is a much larger economy than India and their defence budget will be similary resourced. Surely we dont want to get into an arms race with China. What is the point of such alarmist headlines?