India presented the world's third largest defense budget, 14 times ahead of Pakistan

India's defense budget has been growing at a slow pace for the past several years. Despite this, this time the country has presented the world's third largest defense budget. India's defense budget for the year 2023-24 has increased from 5.25 lakh crore to 5.94 lakh crore. This is about 14 times more than Pakistan's defense budget when compared to India's current rupee. While China's defense budget is only a quarter. That is, China's military budget is 4 times more than India's defense budget. Although China's defense budget was about two to two and a half times more than India's military budget till a few years ago, but during 3 to 4 years, China has increased its defense budget by two times.

America's defense budget is the largest in the world. No country stays around America's defense budget. China is the second largest spender on defense after the US. After this comes the number of India. On the other hand, after India, Britain is at number 4 and Russia at number 5. After the Russia-Ukraine war, many countries have started increasing their defense budget. India is also increasing its defense budget, but its speed is running at a very slow pace as compared to China. According to the total expenditure, the details of the countries spending the maximum amount on the defense budget are as follows.

The Finance Minister informed that a total of Rs 1.62 lakh crore has been set aside for capital expenditure in the Army. These include the purchase of new weapons, aircraft, warships and other military equipment. And according to the budget documents for the next financial year, Rs 2,70,120 crore has been allocated for revenue expenditure, which includes expenditure on salary payments and maintenance of establishments. The capital outlay for the Ministry of Defense (Civil) in the budget for 2023-24 has been pegged at Rs 8,774 crore, while an amount of Rs 13,837 crore has been allocated under capital outlay. An amount of Rs 1,38,205 crore has been allocated separately for defense pension. The total revenue expenditure including pension outlay is estimated to be Rs 4,22,162 crore.