2022
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Detailed explanation-1: -Bhatt was asked whether India’s military spending is ranked third highest globally. According to the details provided by Bhatt, citing data from SIPRI , the US ranked first with the expenditure of USD 800,672.20 million, followed by China’s USD 293,351.90 million while the figure for India was USD 76,598.00 million.
Detailed explanation-2: -In 2021 world military expenditure surpassed the two trillion US dollar mark for the first time, reaching $2113 billion. Global spending in 2021 was 0.7 per cent higher than in 2020 and 12 per cent higher than in 2012.
Detailed explanation-3: -The United States was the top nation in terms of military expenditure, spending $801 billion to make up almost 38% of global military spending in 2021.
Detailed explanation-4: -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.