Union Budget 2024-25 earmarks Rs 4,883 crore as aid to neighbouring countries

New Delhi, July 23 – India has allocated Rs 4,883 crore as aid to foreign countries in the Union budget tabled by Finance Minister Nirmala Sitharaman in Parliament on Tuesday.

This year’s allocation marks a decrease from Rs 5,408.37 crore designated in the fiscal year 2023-24.

India has allocated Rs 2,068.56 crore to Bhutan, down from Rs 2,400.58 crore allocated last year, of which Rs 2,398.97 crore was used. Afghanistan sees an allocation of Rs 200 crore, the same as the fiscal year 2023-24, however, last year an extra Rs 20 crore was used. Bangladesh will receive Rs 120 crore, a decrease from Rs 200 crore allocated last year, with only Rs 130 crore used.

Nepal was allotted Rs 700 crore, up from Rs 550 crore allocated, and an extra Rs 100 crore used in the previous year. Sri Lanka received an increased allocation of Rs 245 crore, up from Rs 150 crore allocated last year. India continues to extend support of Rs 400 crore to the Maldives, consistent with the previous year’s allocation, though actual usage last year was Rs 770.90 crore.

Allocation to Myanmar is Rs 250 crore, down from Rs 400 crore allocated last year, with Rs 370 crore used. Mongolia received Rs 5 crore, down from last year, which was Rs 7 crore, but only Rs 5 crore was used. Chabahar Port is to get Rs 100 crore, the same amount as last year.

India has allocated Rs 370 crore to Mauritius, down from Rs 460.79 crore allocated last year, with Rs 330 crore used. Seychelles was allocated Rs 40 crore, up from Rs 10 crore allocated last year, with Rs 9.91 crore used.

African countries received Rs 200 crore, down from Rs 250 crore allocated last year, with Rs 180 crore used. India has allocated Rs 20 crore to Eurasian countries, down from Rs 75 crore allocated last year, with only Rs 20 crore used.

Latin American countries will receive Rs 30 crore, down from Rs 50 crore allocated last year, with Rs 32 crore used.

Meanwhile, aid for other developing countries and disaster relief is Rs 125 crore and Rs 10 crore, respectively.

It is worth noting that aid for Nepal, Sri Lanka, and Seychelles increased in the new Budget, while allocations for Bhutan, Myanmar, Mauritius, Bangladesh, and Mongolia decreased compared to 2023.

Aid to Afghanistan and Maldives remained unchanged.

Additionally, the aid allocation to Chabahar Port also remained unchanged.

This was the Modi government’s first Budget for its third term, with Finance Minister Nirmala Sitharaman making history by presenting her seventh consecutive budget, surpassing the record held by former Prime Minister and Finance Minister Morarji Desai.