India is fifth largest military spender

27/4/2017 424 Security Issues | Internal Security | View Recent Current Affairs

  • A report by military expenditure monitors Stockholm International Peace Research Institute (SIPRI) has found that India was the fifth largest military spender in 2016. India’s military expenditure for 2016-17 was $55.9 billion.
  • For 2017-18, the Union Budget allocated a defence budget of Rs. 3,59,854.12 crore The defence budget was an increase of 5.3 per cent from the previous year. Its share in the GDP was estimated to be 2.14 per cent and it forms 16.76 per cent share in the Central government expenditure.

Highlights of the report:

  • US, China, Russia and Saudi Arabia took the top four positions, Pakistan didn’t figure anywhere in the top 15 military spenders.
  • Global military expenditure was $1,686 billion, up by 0.4 per cent from 2015. The US maintained its position as the largest spender with an expenditure of $611 billion, an increase of 1.7 per cent from 2015.
  • Second place China’s expenditure increased by 5.4 per cent to $215 billion. Russia has upped its military spending by 5.9 per cent to $69.2.
  • Saudi Arabia lost its position to Russia and dropped to fourth position. It cut its military expenditure by around 30 per cent to bring the total spending at $63.7 billion.
  • India upped its expenditure by 8.5 per cent to bring its spending to $55.9 billion.
  • The 10 countries with the highest military spending accounted for nearly three quarters (73%) of this total. These countries are the USA, China, Russia, Saudi Arabia, India, France, UK, Japan, Germany and South Korea.
  • World military expenditure rose for a second consecutive year to a total of $1686 billion in 2016—the first consecutive annual increase since 2011 when spending reached its peak of $1699 billion.
  • Expenditure increase in North America, Central and Eastern Europe, North Africa, Asia, Oceania. The drop was seen in places like the Middle East, South America, central America, the Caribbean etc.
  • The growth in US military expenditure in 2016 may signal the end of a trend of decreases in spending, which resulted from the economic crisis and the withdrawal of US troops from Afghanistan and Iraq.
  • US spending in 2016 remained 20 per cent lower than its peak in 2010.
  • Despite continuing legal restraints on the overall US budget, increases in military spending were agreed upon by Congress,
  • The report found that one of the major reasons for expenditure growth in the US was a large threat perception.
  • The growth in spending by many countries in Central Europe can be partly attributed to the perception of Russia posing a greater threat.
  • Oil exporters in the Middle East significantly cut their fundings, despite the fact that they are actively involved in the Middle East crisis and several conflicts and wars. The oil-price shock received due to falling oil prices and related economic woes has forced many oil exporters to cut their military spending, the report found. According to the report, between 2015 and 2016 Saudi Arabia had the biggest absolute decrease in spending of $25.8 billion.

Stockholm International Peace Research Institute (SIPRI)

  • The Stockholm International Peace Research Institute (SIPRI) is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
  • Located in Stockholm, Sweden, SIPRI offers a unique platform for researchers from different countries to work in close cooperation.
  • The Institute cooperates closely with several intergovernmental organizations and entities, including the United Nations, the European Union, the IAEA and the OPCW, and regularly provides support to parliamentary, scientific and government partners.
     

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