Chabahar port project gets Rs 100 crore of the total outlay of Rs 22,154 crore by the Ministry of External Affairs for 2024-25.
New Delhi: Ministry of External Affairs (foreign Ministry) A total of Rs 22,154 crore was allocated for fiscal year 2024-25 in the Union Budget on Thursday, compared to last year’s outlay of Rs 18,050 crore. In line with India’s ‘Neighbourhood First’ policy, the largest share of the aid portfolio has been given to Bhutan with an allocation of Rs 2,068 crore. The development outlay for the Himalayan nation in 2023-24 was Rs 2,400 crore.
Underscoring India’s focus on connectivity projects with Iran, the allocation for Chabahar port has also been maintained at Rs 100 crore.
According to budget documents, development assistance to Maldives has been kept at Rs 600 crore compared to last year’s Rs 770 crore.
Continuing India’s special relationship with the people of Afghanistan, budgetary assistance of Rs 200 crore has been earmarked for that country.
Bangladesh will be provided an amount of Rs 120 crore under development assistance while Nepal will be provided Rs 700 crore.
According to the budget documents, Sri Lanka will get development assistance of Rs 75 crore, Mauritius will get Rs 370 crore while the amount for Myanmar is estimated at Rs 250 crore.
A separate amount of Rs 200 crore has been kept for African countries.
An outlay of Rs 282 crore was made for “International Cooperation”. The allocation in 2023-24 was Rs 497 crore.
The total development assistance to various countries and regions like Latin America and Eurasia is estimated at Rs 4,883 crore.
Presenting the interim budget, Finance Minister Nirmala Sitharaman said the recently announced India-Middle East-Europe Economic Corridor (IMEC) is a strategic and economic game changer for India and others.
IMEC is seen as an initiative by like-minded countries to gain strategic influence over China’s Belt and Road Initiative (BRI), which has faced growing criticism over lack of transparency and disregard for nations’ sovereignty. Is.
Sitharaman said, “In the words of the Prime Minister, the corridor ‘will form the basis of world trade for hundreds of years to come, and history will remember that this corridor originated on Indian soil.'”
Underscoring India’s focus on connectivity projects with Iran, the allocation for Chabahar port has also been maintained at Rs 100 crore.
According to budget documents, development assistance to Maldives has been kept at Rs 600 crore compared to last year’s Rs 770 crore.
Continuing India’s special relationship with the people of Afghanistan, budgetary assistance of Rs 200 crore has been earmarked for that country.
Bangladesh will be provided an amount of Rs 120 crore under development assistance while Nepal will be provided Rs 700 crore.
According to the budget documents, Sri Lanka will get development assistance of Rs 75 crore, Mauritius will get Rs 370 crore while the amount for Myanmar is estimated at Rs 250 crore.
A separate amount of Rs 200 crore has been kept for African countries.
An outlay of Rs 282 crore was made for “International Cooperation”. The allocation in 2023-24 was Rs 497 crore.
The total development assistance to various countries and regions like Latin America and Eurasia is estimated at Rs 4,883 crore.
Presenting the interim budget, Finance Minister Nirmala Sitharaman said the recently announced India-Middle East-Europe Economic Corridor (IMEC) is a strategic and economic game changer for India and others.
IMEC is seen as an initiative by like-minded countries to gain strategic influence over China’s Belt and Road Initiative (BRI), which has faced growing criticism over lack of transparency and disregard for nations’ sovereignty. Is.
Sitharaman said, “In the words of the Prime Minister, the corridor ‘will form the basis of world trade for hundreds of years to come, and history will remember that this corridor originated on Indian soil.'”
