Beijing Raises Defence Budget 3X More Than New Delhi

The amount of money that governments spend on their militaries has become one of the most significant components in securing their safety from their opponents as a result of the current geopolitical situation—which has caused this to become one of the most crucial aspects. Tuesday was the day when China made the statement regarding its defence budget, which resulted in an increase of 1.6 trillion yuan, which is equivalent to $222 billion. China has increased the amount of money it spends on defence as a result of the persistent problems that it has with Taiwan and the United States in particular.

On the other side, the connection between China and India is complicated by a tremendous lot of friction. This is how the relationship is described. Since then, India has made it a habit to raise the amount of money that it devotes to its military budget constantly. In its Interim budget address for the year 2024, the government of Modi said that it will provide around $75 billion to the budget. An announcement was made regarding the sum of ₹6.21 lakh crore.

The following is a narrative that discusses the budgets of the military forces of India and China. The draft of China's defence budget for 2024 is around 1.66554 trillion yuan, which is equivalent to $231.36 billion. This is a significant increase from the total amount allocated for the previous year.

By this measure, the increase is 7.2%. It is believed that the official budget figure represents only a small percentage of the overall amount that the People's Liberation Army (PLA) has spent. This is because the amount of money that has been spent on research and development, as well as the acquisition of foreign weaponry, is taken into consideration.

Nevertheless, even though China's economic development rate has slowed down dramatically, the country's defence budget has more than doubled since the year 2015. The occurrence of this is a significant event.

In the past several years, numerous nations, including the United States of America and Japan, have raised the amount of money they spend on their military, as stated by a Chinese military expert who was interviewed by Global Times.

According to a claim that was published by Reuters, President Joe Biden of the United States of America reportedly gave his approval in December 2023 for a record annual spending on the military amounting to $886 billion for the fiscal year 2024. This sum is approximately four times greater than the whole quantity that China has. The government of Japan, on the other hand, has made it possible for the military budget to expand by sixteen per cent and has relaxed the restrictions that it had placed on the sale of lethal weapons after the war.

As of this moment, the budget for India's defence has reached a total of ₹6,21,540.85 crore, which was allotted during the Financial Year 2024-25. The financial allocation for the Department of Defence for the fiscal year 24-25 is approximately one lakh crore (18.35%) larger than the allocation for the fiscal year 2022-23, and it is 4.72% higher than the allocation for the fiscal year 23-24. This is a significant increase in the Department's budgetary allocation.

A total of ₹6,500 crore has been allocated to the Border Roads Organisation by the administration of Modi. This amount represents a thirty per cent increase in comparison to the allocation assigned for the fiscal year 23-24. The persistent threat perception that is being experienced along the border between India and China was taken into consideration when this decision was made. On the other hand, the sum of ₹7.651.80 crore that India allocated for the Indian Coast Guard (ICG) is 6.31% higher than the allocation that was made for the fiscal year 2023-24.

The Minister of Defence referred to the growth in the amount of money spent on capital expenditures as a huge push, which will provide a significant boost to India's attempts to become an economy worth five trillion dollars by the year 2027. This will be accomplished by increasing the amount of money spent on capital expenditures regularly.

Leave a Comment