February 2: India has reduced the grant aid to Nepal in its annual budget. In the upcoming fiscal year, India has pledged to provide INR 5.5 billion to Nepal, which is INR 2 billion less than the pledged amount in the current fiscal year.
India has allocated INR 7.5 billion for Nepal in the current fiscal year.
Meanwhile, India has increased grants to Bhutan and the Maldives. Next year, India will provide grants worth INR 24 billion to Bhutan, up from INR 22 billion in the current year. The amount allocated for Bhutan is the highest amount India has pledged for friendly countries in the coming year.
New Delhi has promised a grant of INR 4 billion to Maldives in the coming year, up from INR 3.6 billion this year.
The grant aid to be given to Afghanistan is equal to that of the current year. Grants to Myanmar, Bangladesh, Sri Lanka, and Mongolia have been reduced as well.
It is mentioned in the budget that India will give INR 4 billion to Myanmar, INR 2 billion to Bangladesh, INR 1.5 billion to Sri Lanka and INR 70 million to Mongolia. In the current year, grants allocation for these countries stand at INR 6 billion, INR 3 billion, INR 2 billion and INR 120 million respectively.