Question : According to the Stockholm International Peace Research Institute, with spending of $55.9 Billion in 2016, which country became the world's fifth-largest military spender?
Option 1: China
Option 2: USA
Option 3: Russia
Option 4: India
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Correct Answer: India
Solution : The correct option is India.
In 2016, India's defence budget saw a notable increase of 8.5 per cent, reaching a total of $55.9 billion, solidifying its position as the world's fifth-largest contributor to military expenditure. In 2023, India's defence budget of INR 5.94 trillion (equivalent to USD 73.8 billion) ranks it as the world's third-largest, trailing only behind the United States and China.
Stockholm International Peace Research Institute, founded in 1966 and based in Stockholm, Sweden, is a global research institute focused on studying conflicts, weapons, arms control, and disarmament.
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