According to a draft budget presented on Tuesday on the first day of the annual session of the National People’s Congress of China’s Parliament, 2019, the defense budget will be 1,190 billion yuan (about 177.61 billion dollars). This year’s defense budget has been reduced by 8.1 percent compared to last year.
China has been increasing its defense budget by less than ten per year since 2016, except in 2015 when it had increased in double digits in the defense sector. With this year’s increase, China’s expenditure on defense has reached close to $ 200 billion.
India’s defense budget was up by 6.87 per cent to Rs 3.18 lakh crore this year. However, this figure is not in conformity with the expectations being made due to continuous increase of its defense capabilities of neighboring countries China and Pakistan.