The allocation for Bangladesh is down by Rs 80 crore compared to the previous regular budget
Bangladesh will get Rs 120 crore as development aid under India’s annual budget for 2024-25 presented in parliament on Tuesday.
The allocation for Bangladesh is down by Rs 80 crore compared to the previous regular budget.
A major slice of the Ministry of External Affairs’ development assistance of Rs 4,883 crore for 2024-25, has been earmarked for countries with Nepal, Sri Lanka, Bhutan, Maldives, Afghanistan and Myanmar getting the lion’s share, as per the budget papers.
Bhutan has emerged as the highest recipient of India’s aid to foreign countries. It has been allocated the highest aid of Rs 2,068.56 crore, which is slightly less than Rs 2,400 crore last year.
The provision is for India’s multilateral and bilateral aid and assistance programmes to neighbouring and other developing countries. This assistance is provided to immediate neighbouring countries and also to the countries of Africa, Central Asia, South Asia and Latin America.
Maldives, whose relations with India came under strain after the election of President Mohd Muizzu, will get Rs 400 crore in the latest budget, the same as last year, even though the revised budget for 2023-2024 showed a higher amount of Rs 770.90 crore. Despite the anti-India protests as well as remarks from its top leadership late last year, which had set off a diplomatic row, India’s investment in the Indian Ocean nation remains consistent.
Nepal is a big beneficiary with an allocation of Rs 700 crore, marking an increase of Rs 150 crore from the previous year’s budget of Rs 550 crore later revised to Rs 650 crore.
Also, there have been increased allocations for Sri Lanka and Seychelles as well, at Rs 245 crore (up by Rs 95 crore from last year’s allocation of Rs 150 crore) and Rs 40 crore (up from Rs 10 crore), respectively.
Afghanistan has not seen any changes in their allocations, remaining at Rs 200 crore as last year.
The budget estimate for the Ministry of External Affairs (MEA) for FY 2024-25 is Rs 22,155 crore, more than Rs 18,050 crore allocated in FY 2023-24 but short of the revised estimate of Rs 29,121 crore for the same fiscal year.
As per the revised estimates for 2023-24, the Indian government provided Rs 6,541.79 crore to foreign governments. This surpassed the budget estimates of Rs 5,848.58 crore for 2023-24. The estimate for 2024-25 is Rs 5,667.56 crore.
