Beijing: China on Saturday hiked its annual defence budget by 7.1% to $230 billion from last year’s $209 billion, three times that of India’s military spending.
The increase comes amid China’s faceoff with India over the boundary issue and growing incidents of muscle flexing by the People’s Liberation Army in the strategic Indo-Pacific region.
The Chinese government proposed the defence budget for the fiscal year 2022 at 1.5 trillion yuan, according to the draft proposals presented by Premier Li Keqiang to the National People’s Congress (NPC), the country’s parliament on Saturday.
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