INDIA’S DEFENCE PREPAREDNESS – A VIEW IN CONTEXT OF NATIONAL ECONOMY: IS DEFENCE CESS ON THE CARDS?

The relationship between defence expenditure and national economy is complex. The 2019 military expenditure database of the Stockholm International Peace Research Institute (SIPRI), released in April 2020, ranks India third, behind the United States (US) and China, and ahead of Russia, France, and the United Kingdom (UK) among other major defence spenders.

 

While India’s GDP growth rate has been fluctuating in the last few years. Moreover, the pre COVID GDP fig...Read More