India cuts Nepal’s aid by 33 per cent

india-cuts-nepal’s-aid-by-33-per-cent

Kathmandu, February 1

has announced of INR eight billion (Rs 12.80 billion) to for the upcoming , which is a significant drop in comparison to the last fiscal year.

Nepal saw a cut of INR four billion from the INR 12 billion that it received in the previous fiscal year from the southern neighbour through its revised budget.

Nepal had received around INR 7.63 billion in fiscal year 2018-19.

Presenting the Union Budget for the upcoming fiscal year today, Indian Finance Minister Nirmala Sitharaman said India’s aid to the neighbouring for the fiscal year 2020-21 stands at INR 50.84 billion.

This forms a substantial chunk of India’s aid globally, which stands at INR 69.06 billion. The total aid to countries has decreased by about INR 560 .

Bhutan continued to see maximum aid allocation in today’s budget speech at INR 28.84 billion, with Afghanistan getting INR four billion, Maldives and Myanmar will be getting INR three billion each and Bangladesh and Sri Lanka have been allocated INR two billion each. Mongolia was allotted INR 20 million.

Nepal will still be a recipient of the thir


Read the full story on The Himalayan Times


Read Previous

Ruslan forays into international markets

Read Next

Buddha Air begins Kathmandu-Rajbiraj direct flights

Got any Comments/ Questions?