India govt steep hikes grant for Nepal

KATHMANDU, Feb 2: Government of India has steep hiked the grant it has been giving Nepal indicating greater zeal in helping with developmental works of South Asian countries.

The Indian government has allocated Rs 3.75 billion IC for the fiscal year 2017/18 which is about 55 million more compared to fiscal year 2016/17 when the grant allotment to Nepal was Rs 3.20 billion IC.

The allotment was made by the Finance Minister of India Arun Jaitley.

India has also offered a grant of Rs 113.30 million to Nepal Police Academy.

Meanwhile, Indian government has allocated 37.14 billion to Bhutan alone, the highest grant pledged to a South Asian country for 2017/18.

Experts say Indian Prime Minister Narendra Modi has increased support and concern over Nepal after Prachanda took over the hot seat.