Financial Daily from THE HINDU group of publications
Saturday, Jul 10, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 10, 2004 |
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Industry & Economy
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Budget Assistance to poor countries raised to Rs 1,723.53 cr Our Bureau
New Delhi, July 9 THE Union Budget has made a higher provision of Rs 1,723.52 crore as grants to foreign Governments, mostly to the small and poor countries whose economies are perceived to be weaker than the Indian economy as compared to last year's Rs 1,583 crore. Of this, a sum of Rs 735 crore is in accordance with the planned expenditures undertaken by the Ministry of External Affairs (MEA) while Rs 705.02 crore has been provided for non-Plan expenditure of the Ministry. Another Rs 281 crore has been arranged for the Finance Ministry's non-Plan expenditures and a small assistance to Bangladesh through the Ministry of Shipping non-Plan budget. The single largest beneficiary country, like in the past, is Bhutan with an allotment of Rs 244.80 crore followed by Africa with an allotment of Rs 104.54 crore. Sri Lanka is the third largest beneficiary with Rs 65.30 crore in a combination of grant and loan followed by Nepal with Rs 59.20 crore in grants. Mauritius accounts for another Rs 40 crore proposed loan assistance. The Budget has also made provision of Rs 14.13 crore for Surinam and Rs 10 crore each for Myanmar and Laos. The total contribution to be made to UNDP during the year stands at Rs 22.93 crore and development assistance to a host of small countries taken together accounts for another Rs 249.25 crore.
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