Beijing: China today hiked its annual defence budget by 7.1 per cent to USD 230 billion from last year's USD 209 billion.
The Chinese government has proposed the defence budget for the fiscal year 2022 at 1.45 trillion yuan (USD 230 billion), a 7.1 per cent year-on-year increase, state-run China Daily reported quoting the draft budget proposals presented by Premier Li Keqiang to the National People's Congress (NPC), the country's parliament today.
The hike makes China's defence budget over three times that of India's defence budget of 5.25 lakh crore (about USD 70 billion) for 2022.
Last year, China's defence spending for the first time crossed USD 200 billion.
In 2021, the defence budget grew by 6.8 per cent to USD 209 billion.