China hikes defence budget

China today hiked its defence budget by 10.7 per cent to USD 115.7 billion well above this year’s Indian defence spending of USD 37.4 billion.

China hikes defence budget to $115.7 billion

China today hiked its defence budget by 10.7 per cent to USD 115.7 billion well above this year’s Indian defence spending of USD 37.4 billion.

The hike in the defence spending was announced as the Chinese legislature, the National People’s Congress (NPC) opened its annual session, which this year also marks the once-in-a-decade power transfer.

As per the budgetary papers placed at the NPC, a sum of 720.168 billion Yuan was allocated for defence, which at the current exchange rate amounted to USD 115.7 billion.

Click here to continue to full article.

Source: Deccan Herald.