40 percent hike in grants to Nepal

By NewsTeam On Mar 1, 2013

India has announced a 40 percent increase in the annual grants it has been providing to Nepal.

According to the annual budget presented by Indian Finance Minister P Chidambaram on Thursday, New Delhi will provide Nepal a grant of IRs 3.8 billion (Rs 6.08 billion) for the year 2013-14.

India had given IRs 2.7 billion (Rs 4.32 billion) for 2012-13.

India has earmarked IRs 70.18 billion for providing grant assistance and loans to a few neighboring countries including Nepal and some countries in East Asia and Latin America and for different technical programmes.

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Last year, the amount was IRs 55.36 billion. Among South Asian countries, Bhutan tops the list of grant recipients, getting IRs 36.14 billion.

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