Union Finance Minister Nirmala Sitharaman presented the interim budget for 2024-25, revealing that Bhutan has emerged as the leading recipient of Indian government grants and loans. In the revised estimates for 2023-24, India provided ₹6,541.79 crore to foreign governments, surpassing the budget estimates for the year.
Loans, constituting ₹1,614.36 crore, were a significant portion of the aid provided, emphasizing future repayment responsibilities. The estimated grants and loans for the upcoming fiscal year amount to ₹5,667.56 crore, with Bhutan securing the top spot among the recipient countries.
Top Recipients of Grants from India:
1. Bhutan – ₹2,398.97 crore (including ₹1,614.36 crore loan)
2. Maldives – ₹770.90 crore
3. Nepal – ₹650 crore
4. Myanmar – ₹370 crore
5. Mauritius – ₹330 crore
6. Afghanistan – ₹220 crore
7. Bangladesh – ₹130 crore
8. Sri Lanka – ₹60 crore
9. Seychelles – ₹9.91 crore
10. Mongolia – ₹5 crore
During her budget speech, Sitharaman highlighted the challenges posed by the global landscape, including Covid-19, conflicts, and geopolitical shifts. She emphasized the emergence of a new world order and India’s role in navigating the complex scenario successfully.
Sitharaman commended India-Middle East-Europe Economic Corridor as a strategic and economic game-changer, foreseeing positive impacts not only for India but also for other nations. The complete budget is anticipated in July after the new government takes office.
Stay tuned for comprehensive coverage of Budget 2024 on Magadh Today for the latest updates on grants, loans, and global economic trends.
