Indian defense budget shoots up 17%

Inidia ’s Military spending has gone up by 17% or Rs 28,992 crore, to Rs 1,93,407 Crore (nearly $40 billion) in the Union Budget 2012-13. Finance Minister Pranab Mukherjee held that the increased allocation was based on the needs projected by the defence ministry. For 2011-12, the spend was pegged at Rs 1,64,415 Crore.
However the three services together returned around Rs 3,000 crore of unspent money. The difference between the Budget Estimate for 2011-12 and the Revised Estimate for the same year was around Rs 3,000 crore.
Indian v/s Chinese Defence Budget :-
China in March 2012 announced that it will increase defence spending by 11.2% in 2012, for the first time taking its annual military expenditure beyond $100 billion to nearly $106.41 billion as it puts in place plans to modernise its Army against the backdrop of an uncertain regional environment . China's spending in 2012 will exceed what India 2011 year spent by 3 times — India's defence expenditure was reported at $36 billion in the 2011-12 budget. This year India’s Military spending has gone up by 17% to nearly $40 billion in the Union Budget 2012-13.

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