The government of India has cut off its financial aid to Nepal in its newly announced budget for 2007-2008. A news report of India has stated that the government of India has allocated USD 31 million for Nepal that is USD 16 million less than last year's USD 47 million.
India is one of the major donors of Nepal.
According to United News of India, the budget unveiled by Finance Minister P Chidambaram at the Lok Sabha (lower house of the Indian Parliament) allocated this budget.
However the budget announced on Wednesday has significantly increased aid for other two neighboring Bhutan and Maldives. India has allocated USD 171 million for Bhutan, up from USD 134 million last year. Likewise, Maldives will have a more than double allocation of USD 3 million, up from the previous year's USD 1 million.
According to budget allocation, the External Affairs will be authorized to spend total of USD 393 million for assistance to other developing countries.
The budget allocation for Bangladesh and Sri Lanka remain the same at USD 3 million and USD 6 million, respectively.
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