India's Finance Minister Nirmala Sitharaman (C) along with her staff leaves the Finance Ministry to present the annual budget in parliament in New Delhi Photograph:( AFP )
India will be providing financial assistance in form of grants and loans worth Rs 6458.95 cr to 10 countries in the region, budget documents have announced
India will be providing financial assistance in form of grants and loans worth Rs 6458.95 cr to 10 countries in the region, budget documents have announced. The highest assistance goes to Bhutan on expected lines, with New Delhi announcing Rs 3004.5 cr to the country--2124.20 in form of a grant and 880.75 cr in form of a loan.
The second highest amount goes to Nepal at Rs 992 cr, followed by the Indian Ocean Island country of Mauritius at Rs 900 cr. Afghanistan, where India has a history of building mega projects like India Afghanistan friendship dam in Herat, Afghan Parliament gets Rs 350 cr.
The Maldives got Rs 250 cr, while Myanmar got Rs 400 cr. Both Bangladesh and Sri Lanka got Rs 200 cr while Seychelles got Rs 160Cr and Mongolia Rs 2Cr. India has been involved in a number of development and Infrastructure and capacity building projects in the region.
Focus increasingly has been on connectivity projects as well. The Chabahar project has been given Rs 100 cr, and the same amount it got last year.
When it comes to Africa, New Delhi has kept aside Rs 300 cr, for Eurasian countries Rs 100 cr, a significant increase from Rs 40 cr last financial year, and for Latin America Rs 40 cr. Around half of the Ministry of External Affairs budget goes in the assistance. The budget for MEA for the Financial year 2020-21 stands at Rs 18154.73 cr.