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Budget 2024: Bhutan Leads As Top Indian Aid Recipient

The Interim Budget 2024, unveiled by Finance Minister Nirmala Sitharaman, sheds light on India’s foreign aid allocation, with Bhutan emerging as a significant recipient. In the Financial Year 2024-25, India allocated a substantial portion of its budget to foreign aid, with a notable emphasis on Bhutan. The allocation for Bhutan underscores India’s commitment to supporting its neighboring countries’ development initiatives.

Foreign Aid Allocation: Revised Estimates and Projections for 2023-24 and 2024-25

The Indian government provided ₹6,541.79 crore to foreign governments with ₹4,927.43 crore as a grant and ₹1,614.36 crore as a loan, as per the revised estimates for 2023-24. It crossed the budget estimates of ₹5,848.58 crore for 2023-24. For 2024–2025, the projected grants and loans total ₹5,667.56 crore. It’s crucial to remember that this is a vote on account, and the full budget is expected in July following the inauguration of the new administration.

Interim Budget 2024: List of Top Recipients of Indian Grants

Sno. Country Amount (in crore ₹)
1 Bhutan 2,398.97
2 Maldives 770.90
3 Nepal 650
4 Myanmar 370
5 Mauritius 330
6 Afghanistan 220
7 Bangladesh 130
8 Sri Lanka 60
9 Seychelles 9.91
10 Mongolia 5

Finance Minister Nirmala Sitharaman’s Leadership

Under the guidance of Finance Minister Nirmala Sitharaman, the Interim Budget 2024 reflects a strategic approach to foreign aid allocation. The budget’s focus on Bhutan underscores the government’s commitment to fostering strong diplomatic ties and regional development.

Looking Ahead

As the Interim Budget sets the stage for the upcoming financial year, stakeholders anticipate further developments in India’s foreign aid strategy. With Bhutan at the forefront of allocation, the budget underscores the importance of regional cooperation and strategic partnerships in driving economic growth and development.

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