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Friday, July 03, 2020

Budget: Fund push for Chabahar port, nominal cut in MEA outlay

The overall allocation for the Ministry of External Affairs has been reduced marginally from Rs 17,372.27 crore to Rs 17,346.71 crore.

Written by Shubhajit Roy | New Delhi | Updated: February 2, 2020 11:33:18 am
Budget 2020, Nirmala Sitharaman 2020 Budget, India Budget 2020 Chabahar port, India Iran Chabahar port, Indian Economic slowdown, Business news indian express The allocation for Chabahar port is now more than twice the allocation of Rs 45 crore last year.

The government on Saturday allocated Rs 100 crore for the strategically-located Chabahar port project in Iran and Rs 140 cr to Seychelles where it is developing infrastructure in the Assumption Island. It has also allocated Rs 100 crore for organising the G-20 summit in 2022.

The allocation for Chabahar port is now more than twice the allocation of Rs 45 crore last year. The allocation to Seychelles has also gone up substantially as last year’s budget allocation was Rs 50 crore.

The overall allocation for the Ministry of External Affairs has been reduced marginally from Rs 17,372.27 crore to Rs 17,346.71 crore.

From farm sector to personal finance, here’s The Indian Express’ full coverage of Budget 2020

The reduction in budget outlay was most significant for Nepal, where it has been slashed from Rs 1,200 crore to Rs 800 crore.

Finance Minister Nirmala Sitharaman on Saturday said India will host the G-20 Presidency in 2022 and Rs 100 crore has been allocated for this purpose.

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“I am happy to inform that India will host G-20 Presidency in the year 2022 — the year of 75th anniversary of Independence,” she said. “For this historic occasion, I allocate a sum of Rs 100 crore to begin the preparations,” she added.

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