2019
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Detailed explanation-1: -A study by the Stockholm International Peace Research Institute has found that India stands at fourth position while China is way ahead of others in self-reliant defence production.
Detailed explanation-2: -World military expenditure is estimated to have been $1822 billion in 2018. It was 2.6 per cent higher in real terms than in 2017 and 5.4 per cent higher than in 2009. Global military spending has been gradually rising following a post-2009 low in 2014.
Detailed explanation-3: -At $649 billion, US military expenditure increased-for the first time in seven years-by 4.6 per cent in 2018. The USA remained by far the largest spender in the world, accounting for 36 per cent of global military spending in 2018 (see figure 2).
Detailed explanation-4: -Conversation. India’s defence budget for 2022-23 is ₹5,25,166 crore ($70.6 billion). Majority of it would go in Salaries (31%) and Pensions (23%). About 24% of defence budget is allocated for weapons, equipment for modernisation.