Nepal to Receive INR 7 Billion Annual Grants from India in 2024/25

India has proposed a generous annual grant of INR 7 billion to Nepal for the fiscal year 2024/25. The announcement was made during the presentation of the Interim Budget for the upcoming fiscal year by Indian Finance Minister Nirmala Sitharaman on Thursday.

This allocation represents a continued commitment to support Nepal, as in the previous fiscal year (2023/24), India had initially pledged INR 8.8 billion but later revised it to INR 10.4 billion. The current proposal underscores India’s dedication to fostering strong ties and cooperation with its neighboring nation.

Comparatively, among South Asian countries, Bhutan emerges as the primary beneficiary of Indian grants. For the fiscal year 2024/25, Bhutan is set to receive a substantial amount of INR 20.68 billion, including INR 9.89 billion in loans.

India’s overall allocation for grants and loans to foreign governments in the fiscal year 2024/25 stands at an impressive INR 96.21 billion, highlighting its commitment to supporting regional development and cooperation.