DEFENCE BUDGETS COMPARISON OF VARIOUS COUNTRIES
INDIA
As India's economy slows down defence spending has been hit the hardest. This Budget's modest hike of 5 per cent on a total defence budget of Rs. 1.93 lakh crore will take the spending to the lowest in three decades. In terms of percentage of total annual government expenditure too, defence spending will see a 30-year low. At 1223 per cent this year, it is considerably down from 15.79 per cent in 1999 as well as lower than last year's 12.97 per cent. The cuts come at a time when India's neighbours have hiked their defence budgets.
CHINA
New President Xi-Jinping has announced a hike of 10.7 per cent in China's defence budget to $ 119 billion, Last year,
China's budget stood at $ 106 billion. China had increased its
defence budget by 112 per cent in 2012. According to India
officials, China's actual spending is almost 60 per cent higher than the declared defence budget.
China's budget stood at $ 106 billion. China had increased its
defence budget by 112 per cent in 2012. According to India
officials, China's actual spending is almost 60 per cent higher than the declared defence budget.
SRI LANKA
The Sri Lankan government approved the 2013 Appropriation Bill in 2012, estimating government expenditure at $ 18 billion. The biggest allocation was to the Defence Ministry, with $ 2.1 billion, an increase of $ 436 million. Sri Lanka announced in October last year it would raise defence spending by over 25 percent in 2013.
UNITED STATES
In January, President Barack Obama announced a strategy that will cut more than $ 450 billion in defence spending over the next 10 years. The US defence budget is over $ 700 billion. However, Obama has vowed to avoid mistakes made in downsizing the military after past wars, when cuts in military spending left many Army units ill equipped to meet their
wartime tasking.
wartime tasking.
UNITED KINGDOM
Britain has among the world's largest military budgets, spending about $ 51 billion-about 2.5 per cent of the GDP-on defence. But deep cuts are looming for British defence in the core budget for 2013-15, amounting to $ 1.1 billion. Despite PM David Cameron's assurances of a ringfenced defence, Britain's
military is looking at a 7.5 per cent cut.
military is looking at a 7.5 per cent cut.
JAPAN
Japan's new conservative government announced a review of national military strategy in January that may increase defence spending for the first time in a decade, with an eye on China's growing military power and territorial disputes. The replacement plan starts with a $ 1.4 billion increase in the military budget in the 2013 fiscal year.
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