China has allocated three times more budget to the defense sector than India. This time, the country’s defense budget is being increased by 7.8 percent and the GDP target has been set to be more than 7 percent. News: NDTV.
The United States allocates the largest budget to the defense sector. The United States has allocated ৭ 640 billion to the defense sector in fiscal year 2021. This is followed by China’s position. India’s defense sector has been allocated ৬ 75.6 billion in the current financial year.
The annual session of China’s parliament began on Friday (March 5th). On the same day, the country’s finance ministry announced that the military budget was being increased to ০ 210 billion.
The country has begun to overcome the Corona situation. This was reflected in the announcement of growth as well as employment growth. Due to the corona, China’s GDP growth last year was 2.3 percent. As part of the country’s economic turnaround, the potential budget deficit has been set at 3.2 percent.
Source: Bhorer Kagoj by www.bhorerkagoj.com.
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