May 25, 2024 10:08 (IST)
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Tokyo, Jan 14 (IBNS): Japanese Prime Minister Shinzo Abe’s government approved a record $42 billion military budget on Wednesday, media reports said.
Sources said the draft budget for the fiscal year from April includes a 2.8 percent rise in defence spending to 4.98 trillion yen for items like planes, naval vessels and fighting vehicles to guard waters bordering China.
The move was taken over a long-running dispute with Tokyo over Japanese-held islands in the East China Sea and to counter China’s rising military might.
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