(PTI) Beijing, Ta. 5
China has increased its defense budget to 206 billion in 2021. This is three times the amount of India’s defense budget. China has increased its defense budget by 7.5 percent this year compared to the previous year.
On the first day of the National People’s Congress, Chinese Parliament, Chinese Prime Minister Li Keqiang announced this year’s defense budget. China has increased its defense budget at a time when China is at loggerheads with India and the US.
According to China’s official Xinhua news agency, China has increased its defense budget to hua 203 billion this year. At the same time, China has been increasing its single-digit percentage in the defense budget for six consecutive years.
However, China’s budget is still much smaller than that of the United States. The US has allocated 20 billion for defense by 2021. Against which China has allocated a budget of 206 206 billion. In other words, China’s defense budget is only 3% of that of the United States.
Last year China allocated ૯૬ 12.5 billion for its defense budget.
On the other hand, China has set a GDP target of 5% for 2021. It is noteworthy that the first effects of the Kora epidemic were seen in China and it is also the first country to be free from this epidemic.
In 2020, China’s GDP grew by 7.5 percent. Which is the lowest in the last few decades. Keqiang told China’s parliament that the world’s second-largest economy aims to grow by more than 6 percent by 2021. The IMF also forecast China’s GDP to grow 7.1 percent in 2021.