2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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China
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USA
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Pakistan
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India
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Detailed explanation-1: -The hike makes China’s defence budget over three times that of India’s defence budget of 5.25 lakh crore (about USD 70 billion) for 2022. Last year, China’s defence spending for the first time crossed USD 200 billion. In 2021, the defence budget grew by 6.8 per cent to USD 209 billion.
Detailed explanation-2: -At the fifth session of the 13th National People’s Congress in early March, the Chinese government announced a defense budget of 1.45 trillion yuan (about $229 billion) for fiscal year 2022, which is a 7.1 percent year-on-year increase from 2021 (Xinhua, March 5).
Detailed explanation-3: -The largest spenders Defence spending amounted to 2.2% of global GDP. The five largest spenders in 2021 were the United States, China, India, the United Kingdom and Russia, together accounting for 62 per cent of expenditure, the Stockholm-based institute said.