Know the biggest defense budget 2023 – List of countries according to 20 defense budgets.
The estimated period of income and expenditure for a given period is known as ‘Budget’. Get updates on the list of countries with the largest defense budget 2023 and 20 defense budget wise from this article.
biggest defense budget 2023
The second name of the largest defense budget is the military budget. The most important defense budget in the year 2023 is the United States, and the cost of the budget is $683 billion. The military or defense budget includes the salaries of the individuals, the cost of purchase of equipment, the cost of purchase of medicines and the cost required at the time of training of the army. While preparing the budget, they have to take the estimated amount from each department, such as Accounts Department, Arms and Weapons Department, Health Care Department, Repair and Maintenance Department etc. Basically some budgets play an important role while preparing the budget.
For making a budget, there are some essential factors that should be kept in mind:
- defining business or organizational objectives
- Identification of important factors of the budget
- appointment of officer
- budget manual
- budget period
- standard output or activity
There are many types of budgets. some of them are as follows
A. Period-wise Budget:
1. Long Term Budget
2. Short Term Budget
3. Current Budget
B. Capacity wise budget
1. Fixed Budget
2. Flexible Budget
C. master budget
D. Function wise budget
Why is it necessary for any country to make a defense budget in 2023?
Making a defense budget is essential because it gives you an estimated amount, and then at the end of the year or in the reported quarter, they can compare it with the actual cost. If the amount spent is more than expected, they can control and efficiently track the areas where over-invested.
Below is a table that shows the break-up of the most important defense budgets which are as follows:
| Sl.No. | details | Budget |
| 1. | operation and maintenance | $283.3 billion |
| 2. | military personnel | $154.2 billion |
| 3. | procurement of equipment and weapons | $140 billion |
| 4. | Research and Development, Testing and Evaluation | $79.1 billion |
| 5. | military construction | $23.9 billion |
| 6. | family accommodation | $3.1 billion |
Defense budget also builds the country’s economy.
The Government of India attaches great importance to the defense budget. In the last year 2022, Indian government spent 5.5 lakh crores in the defense budget, but in the year 2023, it is expected that Indian government will increase the budget from 8% to 18%. The Government of India focuses on its domestic defense companies for its development. MSME will play an important role in the budget and research and development will also play an important role in the 2023 budget. India’s defense budget allocation is expected to increase in the year 2023.
List of 20 Largest Defense Budget-wise Countries
In this section, we will discuss about the budget and the list of countries according to the budget.
The country wise top 20 defense budgets are shown in the table below
| Sl.No. | details | Budget |
| 1. | United States of america | $750 billion |
| 2. | China | $237 billion |
| 3. | Saudi Arab | $67.6 billion |
| 4. | India | $61 billion |
| 5. | United Kingdom | $55.1 billion |
| 6. | Germany | $50 billion |
| 7. | Japan | $49 billion |
| 8. | Russia | $48 billion |
| 9. | South Korea | $44 billion |
| 10. | France | $41.5 billion |
| 1 1 | Italy | $32 billion |
| 12. | Australia | $31.8 billion |
| 13. | Canada | $26.4 billion |
| 14. | Iran | $24.6 billion |
| 15. | israel | $24.3 billion |
| 16. | spain | $19.5 billion |
| 17. | Brazil | $19.2 billion |
| 18. | turkey | $15.5 billion |
| 19. | Netherlands | $13.8 billion |
| 20. | poland | $13.7 billion |
There are five largest military countries in this world (United States of America, China, Russia, United Kingdom and France). These countries are called world powers. All these countries are members of a veto on the United Nations Security Council, which was created during World War II. We have already given the method of the most important budget of the military country i.e. America in the form of a table at the beginning of the article. However, I have also shared with you the information about the foremost land force of the world, i.e. India. To know about the Finance Budget of India, you have to click on the link to know about the Budget of India 2023:- Finance Budget 2023
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