KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal. India’s Finance Minister Nirmala Sitharaman mentioned in the annual budget presented in the parliament on Tuesday that India will provide the aforementioned grant to Nepal in the fiscal year 2024-25.

This amount is INR 500 million (Rs 800 million) more than the revised estimate of the last fiscal year 2023-24. India had pledged to provide INR 6.50 billion (NRS 10.40 billion) to Nepal in the last fiscal year.

India's grant to Bhutan is the highest, with a grant of INR 26.80 billion. Similarly, the budget mentions that India will provide grants of INR 5 billion to Mongolia, INR 4 billion to the Maldives, INR 2.5 billion to Myanmar, INR 2.45 billion to Sri Lanka, INR 2 billion to Afghanistan, INR 1.2 billion to Bangladesh, and INR 2 billion to African countries.