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China Likely To Increase Its Military Budget Once Again

05 March,2023 09:30 PM IST | Mumbai

Amid the ongoing geopolitical tensions in the world, China’s military budget is likely to increase again. National People’s Congress’ Wang Chao said that their defense budget had been moderate and below global averages. However, China has been significantly increasing its defense budget for the last few years. Wang Chao said that this increase in budget was “appropriate and reasonable”, and much needed for China. As per Global Times, China`s defense budget for 2022 was set at 1.45 trillion yuan ($230 billion). The details about China’s actual spending on the defense sector, compared with its budget may vary. The US defense department estimates that it could be 1.1 to 2 times higher than what China announced. The rise in China’s defense budget may worry India as there have been continuous skirmishes along LAC. Recently, EAM S Jaishankar held a bilateral meeting with his Chinese Counterpart Qin Gang. They discussed the current challenges, bilateral relationships, and peace in the border areas. Notably, this was Qin Gang’s first visit to India after the Tawang clash along LAC.

05 March,2023 09:30 PM IST | Mumbai

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