Union Finance Minister Nirmala Sitharaman on Wednesday introduced that the centre would cut back the help bundle to international international locations slashing the quota for Bangladesh, Nepal and Sri Lanka.

In the Union Budget 2023-2024 introduced on Wednesday, the entire help to international locations was diminished to Rs 5408.37 crore this 12 months from Rs 6292.30 in Budget 2022-2023.

The finances allocation was diminished this 12 months for countries- together with Bhutan (Rs 2400.58 Cr to Rs 2266.24 Cr), Bangladesh (Rs 300 Cr to Rs 200 Crore), Nepal (Rs 750 Cr to Rs 550 Cr), Sri Lanka (Rs 200 Cr to Rs 150 Cr), Myanmar (Rs 600 Cr to Rs 400 Cr), Mongolia (Rs 12 Cr to Rs 7 Cr) and Eurasian Countries (Rs 140 Cr to Rs 75 Cr).

The finances for different international locations remained the identical as final 12 months together with Afghanistan (Rs 200 Cr), African Countries (Rs 250 Cr) and Other Developing Countries (Rs 150 Cr).

Meanwhile the finances this 12 months was elevated for Bhutan (Rs 2266 Cr to Rs 2400 Cr), Maldives (Rs 360 Cr to Rs 400 Crore) and Latin American Countries (Rs 40 Cr to Rs 50 Cr).

The centre additionally stored the allocation for Chabahar Port in Iran similar as final 12 months at Rs 100 Crore.

In the Union Budget 2023-2024, the very best allocation was for Bhutan at Rs 2400 crore whereas the bottom allocation was for Mongolia at Rs 7 crore.

The allocation to the defence sector was highest at 6.2 lakh crore, seeing hike of over 16 % from final 12 months. While the allocation to Railways was on the highest at Rs 2.four lakh crore.

The central authorities will spend Rs 10 lakh crore on longer-term capital expenditure in 2023-24, extending a technique adopted to revive development within the aftermath of the Covid disaster.

(With inputs from Shailendra Wangu)

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