July 23, 2024
2 mins read

Big Aid Package for Neighbours in New Budget

This year’s allocation marks a decrease from Rs 5,408.37 crore designated in the fiscal year 2023-24….reports Asian Lite News

India has allocated Rs 4,883 crore as aid to foreign countries in the Union budget tabled by Finance Minister Nirmala Sitharaman in Parliament on Tuesday.

This year’s allocation marks a decrease from Rs 5,408.37 crore designated in the fiscal year 2023-24.

India has allocated Rs 2,068.56 crore to Bhutan, down from Rs 2,400.58 crore allocated last year, of which Rs 2,398.97 crore was used. Afghanistan sees an allocation of Rs 200 crore, the same as the fiscal year 2023-24, however, last year an extra Rs 20 crore was used. Bangladesh will receive Rs 120 crore, a decrease from Rs 200 crore allocated last year, with only Rs 130 crore used.

Nepal was allotted Rs 700 crore, up from Rs 550 crore allocated, and an extra Rs 100 crore used in the previous year. Sri Lanka received an increased allocation of Rs 245 crore, up from Rs 150 crore allocated last year. India continues to extend support of Rs 400 crore to the Maldives, consistent with the previous year’s allocation, though actual usage last year was Rs 770.90 crore.

Allocation to Myanmar is Rs 250 crore, down from Rs 400 crore allocated last year, with Rs 370 crore used. Mongolia received Rs 5 crore, down from last year, which was Rs 7 crore, but only Rs 5 crore was used. Chabahar Port is to get Rs 100 crore, the same amount as last year.

India has allocated Rs 370 crore to Mauritius, down from Rs 460.79 crore allocated last year, with Rs 330 crore used. Seychelles was allocated Rs 40 crore, up from Rs 10 crore allocated last year, with Rs 9.91 crore used.

African countries received Rs 200 crore, down from Rs 250 crore allocated last year, with Rs 180 crore used. India has allocated Rs 20 crore to Eurasian countries, down from Rs 75 crore allocated last year, with only Rs 20 crore used.

Latin American countries will receive Rs 30 crore, down from Rs 50 crore allocated last year, with Rs 32 crore used.

Meanwhile, aid for other developing countries and disaster relief is Rs 125 crore and Rs 10 crore, respectively.

It is worth noting that aid for Nepal, Sri Lanka, and Seychelles increased in the new Budget, while allocations for Bhutan, Myanmar, Mauritius, Bangladesh, and Mongolia decreased compared to 2023.

Aid to Afghanistan and Maldives remained unchanged.

Additionally, the aid allocation to Chabahar Port also remained unchanged.

This was the Modi government’s first Budget for its third term, with Finance Minister Nirmala Sitharaman making history by presenting her seventh consecutive budget, surpassing the record held by former Prime Minister and Finance Minister Morarji Desai.

ALSO READ: Opposition Tears into Budget

Previous Story

Imran Khan’s PTI Under Fire for Digital Terrorism

Next Story

Jaishankar Heads to Key ASEAN, Quad Meet

Latest from -Top News

India Marks Ayurveda Day in Ghana

The conference brought together academicians, officials from the Ghana Ministry of Health, Ayurveda doctors, herbalists, and other key stakeholders…reports Asian Lite news To mark the 10th Ayurveda Day, the Indian High Commission

US Urges India to Rethink Russian Oil Imports

Wright emphasised the priority of ending the conflict while strengthening US-India ties…reports Asian Lite News United States Energy Secretary Chris Wright urged India to reassess its oil imports from Russia, stressing that

Trump, Shehbaz Set for Oval Office Talks

Sharif will arrive in Washington after attending the 80th United Nations General Assembly in New York….reports Asian Lite News US President Donald Trump will hold high-stakes bilateral meetings on Thursday, including a

Farooq Abdullah Urges Dialogue After Ladakh Unrest

Dr Farooq Abdullah warned the Central government that neglecting their long-standing demands could deepen unrest in the sensitive Himalayan region….reports Asian Lite News Former Jammu and Kashmir Chief Minister and National Conference
Go toTop

Don't Miss

MEDIA SCAN: India-China trade escalates as border row with Nepal deepens

India-China trade in 2021 reached a record high amid bilateral

5G services by March 2023 in India

A total of 72097.85 MHz of spectrum with a validity