China presented its defense budget on Wednesday (05 March). The neighboring country has once again announced an increase in its defense budget. Dragon has set a budget of $249 billion for defense expenditure. This is 7.2 percent more than last year’s budget.
In the draft budget presented before Chinese Prime Minister Li Qiang, China’s defense budget this year has been fixed at 1.7 trillion yuan ($249 billion). China is spending a lot of money to increase the strength of its army and make its military weapons advanced. China had said on Tuesday that strength is necessary for peace and sovereignty.
China wants to challenge America on every front. Let us tell you that China’s military budget is three times that of India. Recently, India’s Finance Minister Nirmala Sitharaman presented the general budget. The Finance Minister had allocated $75 billion for military expenditure.