China's defence budget will for the first time cross $200 billion with the government on Friday announcing a 6.8% hike in defence spending for 2021.The announcement was made at the start of the week-long session of the National People's Congress (NPC), the Communist Party-controlled legislature, in Beijing.The hike is only a slight raise from the 6.6% increase announced in 2020 amid the pandemic, which was the lowest increase in many years. The defence budget saw double-digit increases until 2015, and was hiked 7.5% in 2019.The budget for 2021 was announced as 1.35 trillion yuan ($209 billion), up from 1.27 trillion Yuan ($179 billion) last year. This will take China's defence spending to more than four times India's $49.75 billion budget, not including pensions. India's budget last month announced a modest 1.48% hike in total defence spending to ₹4.78 lakh crore ($65.7 billion) including pensions, or ₹3.62 lakh crore ($49.75 billion) minus pensions. India also announced a record 18.5% increase in capital outlay to ₹1.35 lakh crore ($18.4 billion). In China, spending on pensions is not entirely from the defence budget, as it is also shared by the Ministry of Civil Affairs and provincial (state) governments, although part of the budget's… Read full this story
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