24TH July 2024 (14 Topics)
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Neighbourhood first
Context
The Union Budget 2024-25 has allocated significant funds under the Ministry of External Affairs (MEA) for aid to foreign countries, particularly focusing on India's neighbourhood and strategic partners. This allocation reflects India's continued emphasis on bolstering diplomatic ties and supporting developmental projects abroad.
Allocation Breakdown:
- Neighbourhood Focus:
- Bhutan emerges as the top recipient with an allocation of Rs 2,068.56 crore, slightly lower than the previous year's Rs 2,400 crore.
- Nepal receives Rs 700 crore, marking a notable increase from Rs 550 crore in the previous year's budget.
- Maldives retains its allocation at Rs 400 crore, consistent with the previous year despite diplomatic tensions.
- Sri Lanka sees an increase to Rs 245 crore from Rs 150 crore, aimed at supporting infrastructure and development projects.
- Seychelles receives Rs 40 crore, up from Rs 10 crore previously allocated.
- Other Regional Allocations:
- Afghanistan maintains its allocation at Rs 200 crore.
- The Chabahar port project in Iran continues to receive Rs 100 crore, unchanged for the past three years.
- Overall MEA Budget:
- The total Budget estimate for MEA for 2024-25 is Rs 22,155 crore, a significant increase from Rs 18,050 crore in the previous year.
- However, it falls short of the revised estimate of Rs 29,121 crore for the same fiscal, indicating adjustments in financial planning.
Purpose and Impact:
- India's aid and assistance programmes aim to strengthen bilateral and multilateral relations, enhance regional stability, and support infrastructure development in recipient countries.
- The allocations reflect strategic priorities and diplomatic efforts to maintain influence and cooperation in India's extended neighbourhood and beyond.
Fact Box:India’s Neighbourhood First Policy
Major initiatives
Infrastructure projects
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