World News | China to Increase Defence Spending by 7.2 Per Cent This Year

Beijing, Mar 5 (PTI) China on Wednesday announced a 7.2 per cent increase in its national defence budget to USD 249 billion this year.

The planned defence expenditure for the country is 1.784665 trillion yuan (about USD 249 billion) this year, according to a draft budget report submitted to China's Parliament by Premier Li Qiang.

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Last year, China increased its defence budget by 7.2 per cent to about USD 232 billion (1.67 trillion yuan) -- over three times that of India -- as it continues with the massive modernisation of all its armed forces.

China's defence budget figures are viewed with scepticism in the light of massive military modernisation, including building aircraft carriers, rapid construction of advanced naval ships and modern stealth aircraft being carried out at a feverish pitch by the Chinese military.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)