Search results
Results from the WOW.Com Content Network
The defence budget of India was increased to ₹ 621,940 crore (US$72 billion) in the 2024-2025 union budget from ₹ 593,538 crore (US$69 billion) during last year. This year’s defence budget accounts for 1.89% of the country’s projected gross domestic product (GDP) for 2024-25. [15]
The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies .
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
For premium support please call: 800-290-4726 more ways to reach us
As a percentage of GDP, the annual deficit has nearly doubled in just 10 years, from 2.8% in 2014 to a projected 5.3% in 2024. So there's just a lot more borrowing to pay interest on.
[3] [4] India has the third largest annual defence budget behind USA (US$732 billion) and China (US$261 billion). The country's defence budget is projected to increase to US$415.9 billion between 2025 and 2029. [5] It is the second largest defence importer behind Saudi Arabia making up 9.2% of global arms imports.
The fiscal year starts Oct. 1, and in the first month the Treasury shelled out $88.9 billion in interest on its debt securities, while the Department of Defense spend $83.4 billion on military ...