Military Spending Trends in 2024

In 2024, military spending reached unprecedented levels globally. Tensions between nations have driven countries to increase their defence budgets. India and Pakistan’s military expenditure starkly illustrates this trend. According to the Stockholm International Peace Research Institute (SIPRI), India’s military spending was nearly nine times that of Pakistan’s. This report marks the shifting dynamics in global military investments.

India’s Military Expenditure

India’s military spending in 2024 was $86.1 billion. This marked a 1.6 per cent increase from the previous year. India ranks fifth globally in military expenditure. The substantial budget reflects India’s commitment to modernising its armed forces amid regional tensions.

Pakistan’s Military Spending

In contrast, Pakistan’s military budget was $10.2 billion in 2024. This disparity illustrates the growing military capabilities of India compared to Pakistan. The limited budget affects Pakistan’s ability to enhance its military infrastructure and technology.

Global Military Spending Overview

The top five military spenders—United States, China, Russia, Germany, and India—accounted for 60 per cent of the global total military expenditure. Collectively, they spent $1,635 billion. This concentration of military spending raises concerns about global security and stability.

China’s Military Investments

China’s military expenditure rose by 7.0 per cent to an estimated $314 billion. This increase marks three decades of continuous growth. China invests heavily in modernising its military capabilities, including cyberwarfare and nuclear arsenals. It now represents 50 per cent of military spending in Asia and Oceania.

European Military Spending Surge

Military expenditure in Europe, including Russia, rose by 17 per cent to $693 billion. The ongoing war in Ukraine has influenced military budgets across the continent. Countries are implementing new spending pledges and large-scale procurement plans.

Russia’s Military Budget

Russia’s military expenditure reached approximately $149 billion in 2024. This represents a 38 per cent increase from 2023. The budget constitutes 7.1 per cent of Russia’s GDP. The increase puts stress on Russia’s focus on military capability amid ongoing conflicts.

Ukraine’s Military Spending

Ukraine’s military budget grew by 2.9 per cent to $64.7 billion. This figure is equivalent to 43 per cent of Russia’s military expenditure. Ukraine’s military spending represents 34 per cent of its GDP, the highest burden globally. The allocation of all tax revenues to the military reflects the dire circumstances faced by the nation.

Military Spending in Central and Western Europe

Countries in central and western Europe reported unprecedented increases in military spending. Germany’s military expenditure rose by 28 per cent to $88.5 billion, making it the largest spender in its region. Poland also saw increase of 31 per cent, reaching $38.0 billion.

Questions for UPSC:

1. Examine the implications of increased military spending on global security dynamics.
2. Discuss the factors contributing to the rise in military expenditure in Europe post-Ukraine conflict.
3. Critically discuss the impact of military spending on economic development in developing nations.
4. Analyse the relationship between military expenditure and national security in the context of India and Pakistan.

Answer Hints:

1. Examine the implications of increased military spending on global security dynamics.

1. Heightened military spending can lead to an arms race, increasing tensions between nations.
2. Resource allocation to military budgets may detract from social and economic development initiatives.
3. Increased military capabilities can embolden nations to adopt aggressive foreign policies.
4. Global security alliances may shift as nations respond to perceived threats from military spending.
5. Potential for miscalculations or conflicts to arise due to escalated military posturing.

2. Discuss the factors contributing to the rise in military expenditure in Europe post-Ukraine conflict.

1. The ongoing war in Ukraine has heightened security concerns across Europe.
2. Nations are implementing new defense strategies and procurement plans to enhance military readiness.
3. Historical context of the Cold War influences current military spending decisions.
4. Increased defense budgets are often politically motivated to reassure allies and deter aggression.
5. Economic growth in some European nations allows for expanded military investments.

3. Critically discuss the impact of military spending on economic development in developing nations.

1. High military expenditures can divert funds from essential public services like education and healthcare.
2. Increased military spending may lead to debt accumulation, impacting long-term economic stability.
3. Some argue that military investment can stimulate job creation in defense industries.
4. Political instability due to military focus can deter foreign investment and economic growth.
5. Balancing military needs with developmental goals is crucial for sustainable growth.

4. Analyse the relationship between military expenditure and national security in the context of India and Pakistan.

1. India’s higher military budget reflects its strategic priorities and regional security concerns.
2. Pakistan’s limited military spending impacts its ability to match India’s capabilities.
3. Both nations’ military expenditures are influenced by historical conflicts and ongoing tensions.
4. Military spending is often justified as necessary for national defense and deterrence.
5. Economic stability in both countries is affected by prioritizing military over social spending.