India cuts development aid allocation for Bangladesh by 40%
India has lowered its development aid allocation for Bangladesh by 40% in its annual budget for the fiscal year 2024-25 placed in parliament yesterday (23 July).
This year, the Modi-administration allocated 120 crore rupees for Bangladesh, which is down by 80 crore rupees from that of the previous budget, reports The Daily Star.
A significant portion of the Ministry of External Affairs' (MEA) development assistance of 4,883 crore rupees for 2024-25 has been earmarked for countries such as Nepal, Sri Lanka, Bhutan, Maldives, Afghanistan and Myanmar.
Keep updated, follow The Business Standard's Google news channel
Bhutan has emerged as the highest recipient of India's aid, receiving 2,068.56 crore rupees, less than last year's 2,400 crore rupees.
The provision is for India's multilateral and bilateral aid and assistance programmes to neighbouring and other developing countries in Africa, Central Asia, South Asia and Latin America.
As per the revised estimates for FY24, the Indian government provided 6,541.79 crore rupees to foreign governments, surpassing the budget estimates of 5,848.58 crore rupees.
The estimate for FY25 is 5,667.56 crore rupees.
