Where does India stand globally on defence spends?
While the US' spends on defence is the maximum on defence reaching to $571 billion in 2014, but in terms of military expenditure as a percentage of the GDP it ranks fourth with 3.5%.
Defence budgets account for a huge chunk of the budget pie for countries around the world every year.
This includes India too. In 2016-17, India's defence budget accounted for nearly 17.2% of the total central government expenditure, at Rs 19.78 lakh crore (about $294.36 billion).
In terms of defence spends as a percentage of the GDP, India stands fifth globally. Our defence expenditure as a percentage of the GDP was 2.4% in 2014, according to a Forbes report. In the year under consideration, the government allocated $37.15 billion (Rs 2.24 lakh crore) on the defence budget.
Saudi Arabia topped the list, according to Forbes, in terms of defence spends as a percent of the GDP. With 10.4% of their GDP spent on the development of its armed forces in 2014, Saudi Arabia took the top spot. It was followed by Israel, with 5.2% of its GDP spent on the military expenditure.
While the US' spends on defence is the maximum, touching $571 billion in 2014, in terms of military expenditure as a percentage of the GDP it ranks fourth at 3.5%.
Russia comes in at fourth with 4.5% of their GDP spent on military expenditure.
China despite spending a huge $129.4 billion on its military budget, a defence budget second to only the US, it had spent only 2.1% of the GDP and came in at ninth spot.
France, Turkey and the UK come in after India on the list.
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