India was the fifth largest military spender in 2016. India’s military expenditure for 2016-17 was $55.9 billion, according to a report by Stockholm International Peace Research Institute (SIPRI). For 2017-18, the Union Budget allocated a defence budget of Rs. 3,59,854.12 crore (US$ 53.5 billion) to the Ministry of Defence (MoD).[Read More…]
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