China Raises its Defence Budget by 7.2 per cent, What it means for India?
As China continues to enhance its high-tech military capabilities, a 7.2 per cent increase in its national defence budget has been announced on Wednesday. The Chinese defence budget will reach USD 249 billion this year following the announcement. The planned defence expenditure for the country is 1.784665 trillion yuan this year. It amounts to about USD 249 billion. This is according to a draft budget report submitted to China's Parliament by Premier Li Qiang. During the previous year, China had increased its defence budget by 7.2 per cent to about $232 billion (1.67 trillion yuan). Interestingly the Chinese defence budget…