In the wake of the China's massive spending on its military power, Verma said that India should also allocate a fixed three percent of its total GDP for the defence sector. “India should announce a fixed 3% of the GDP as defence budget for the next 10 years. Because it has not modernized its armed forces for last three and half decades,” said Verma.
China has justified its move while saying that it is good for regional stability amid tensions with several neighbors. Chinese analysts also tried to downplay the defence budget hike while comparing it with the US' defence budget of $531 billion USD.
“China meant to say that it has created so much military power that nobody can attack them today. They were referring directly to the US and the other Western countries. China said because it is strong, there is stability. Now, this is what India also has to do. If India is strong there will be stability and if India is weak, there will be instability,” said Verma.
He added that the huge allocation for the defence sector by China doesn't mean that it is falling into any trap of arms industry. “They are only ensuring that they become a great power. No country can become a great power without the military power,” said Verma.
China will shortly witness a change in leadership that was ruling the country for the last ten years. The 3000-member strong National People's Congress will formally elect Communist leader Xi Jinping to replace the current president Hu Jintao. However, the serving Premier Wen Jiabao will transfer the powers to his communist party member Li Keqiang.
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