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Government raises foreign aid to Nepal by 40% to Rs. 1,050 crore

Government raises foreign aid to Nepal by 40% to Rs. 1,050 crore

India has increased its annual aid to Nepal for the fiscal year 2019-20 by 40%. According to India's National Budget unveiled on July 5, Nepal will receive Indian rupees 1050 crore for this fiscal year.

In the last fiscal year, the Indian government had allocated Indian rupees 750 crore to Nepal.

Bhutan (INR 2801.79 cr) ranks first in terms of the amount of aid allocated by India for its neighboring countries. Mauritius ranks second and Nepal third followed by the Maldives. Meanwhile, India has allocated INR 8 crore each for the South Asian Association for Regional Cooperation (SAARC) and BIMSTEC including Afghanistan, Myanmar, Sri Lanka, Bangladesh, Seychelles and Mongolia. Similarly, the Indian government has allocated Indian rupees 275 crore for the United Nations.

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