India announces 40 pc rise in aid to Nepal

The Government of India in its annual budget statement has announced a 40 per cent increment in financial aid to Nepal.

According to the budget, presented by Finance Minister P Chidambaram on Thursday, Nepal has been alloted IRs 380 crore (Rs 6.08 billion) as against IRs 270 crore (Rs 4.32 billion) last year.

The minister said the total amount allocated for projects including development and direct aid to foreign countries is Rs 6,967 crore as against Rs 5,471.93 crore in the revised budget of 2012-13. nepalnews.com