Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: India has increased its annual grant to Nepal by 12.72 percent.
The Indian government through its union budget for fiscal year 2021-22 allocated IRs9.92 billion [Rs15.87 billion] to Nepal.
Indian Finance Minister Nirmala Sitharaman presented the budget in Parliament on Monday.
The grant pledged by the Indian government for Nepal is the second highest among South Asian countries. It is, however, lower than what India had provided to Nepal in 2019-20.
In 2019-20, Nepal received IRs11.98 billion [Rs19.16 billion] grant from the southern neighbour, which was significantly reduced by 26.54 percent to IRs8.80 billion [Rs14.08 billion] in 2020-21.
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