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India's Military Spending In 2021 Ranked Third Highest Worldwide, After US & China: Centre
Writer: Tanmay Channa
I am currently pursuing BSc.Economics from NMIMS University, Mumbai. I have a deep interest for research and journalism.
India, 30 July 2022 11:51 AM GMT
Editor : Shiva Chaudhary |
A post-graduate in Journalism and Mass Communication with relevant skills, specialising in content editing & writing. I believe in the precise dissemination of information based on facts to the public.
Creatives : Shiva Chaudhary
A post-graduate in Journalism and Mass Communication with relevant skills, specialising in content editing & writing. I believe in the precise dissemination of information based on facts to the public.
To boost self-reliance in the defence sector, the central government had allocated Rs 84,598 crore, which is 68 per cent of its military's budget, for purchasing locally produced weapons and systems.
India's military spending for the year 2021 was ranked as the third highest worldwide, the central government said, citing the data collated by Stockholm-based defence think-tank SIPRI. According to the report, the United States ranked first, followed by China second.
During the ongoing monsoon session of the Parliament, Minister of State for Defence Ajay Bhatt gave this information in the Lok Sabha while answering a question on India's military spending.
What Did The Minister Say?
Trinamool Congress (TMC) Member of Parliament Nusrat Jahan Ruhi raised a series of questions on India's military and its expenditure.
Bhatt said that the ministry does not maintain expenditure data of other countries while answering if India's military spending is ranked third highest globally.
He said, "However, as per data available on Stockholm International Peace Research Institute's (SIPRI) website, India's military spending for the year 2021 is ranked as third highest in the world," reported NDTV.
The US ranked first with an expenditure of USD 800,672.20 million, followed by China's USD 293,351.90 million and India's USD 76,598.00 million.
Growth In Domestic Procurement Of Defence Equipment
Bhatt was asked whether more than 50 per cent of defence equipment had been imported between 2017 and 2021, to which he refused.
The minister said that the percentage of foreign procurement (both revenue and capital) made for the purchase of stores/defence equipment has been in the range of 33.97 per cent to 41.60 per cent.
He added domestic procurement of defence equipment had grown in the past three years. It went up from 54 per cent in 2018-19 to 64 per cent in 2020-21.
To boost self-reliance in the defence sector, the central government had allocated Rs 84,598 crore, which is 68 per cent of its military's budget, for purchasing locally produced weapons and systems.
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