Nepal set to get Rs 11.2 billion Indian grants in 2024/25

KATHMANDU: India has proposed to provide Rs 11.2 billion (INR 7 billion) in annual grants to Nepal in fiscal year 2024/25.

In the Interim Budget for the Fiscal Year 2024/25 presented on Thursday by Indian Finance Minister Nirmala Sitharaman, India has earmarked INR 7 billion in grants for Nepal.

In the fiscal year 2023/24, India had pledged to provide Rs 8.8 billion in grants for Nepal. However, it revised it up to Rs 10.4 billion.

Among South Asian nations, Bhutan is the largest recipient of grants from India. Bhutan has been allocated INR 20.68 billion, including INR 9.89 billion in loans, for the fiscal year 2024/25.

India’s total allocation for grants and loans to foreign governments in the fiscal year 2024/25 stands at INR 96.21 billion.