Nepal is set to receive a generous annual grant of INR 7 billion from India in the fiscal year 2024/25, as proposed by Indian Finance Minister Nirmala Sitharaman during the presentation of the Interim Budget on Thursday.
This allocation signifies India’s ongoing commitment to supporting Nepal, as in the preceding fiscal year (2023/24), the initial pledge was INR 8.8 billion, later revised to INR 10.4 billion. The current proposal emphasizes India’s dedication to strengthening ties and cooperation with its neighboring nation.
In comparison, Bhutan emerges as the primary beneficiary of Indian grants among South Asian countries. For the fiscal year 2024/25, Bhutan is slated to receive a substantial amount of INR 20.68 billion, including INR 9.89 billion in loans.
India’s comprehensive allocation for grants and loans to foreign governments in the fiscal year 2024/25 stands at an impressive INR 96.21 billion, underscoring its commitment to promoting regional development and cooperation.
