India allocates Rs 7.5 billion to Nepal for fiscal 2022/23

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Kathmandu, February 1: The Indian government has allocated Indian Rupees (Rs) 7.5 billion (equivalent to Nepali Rupees 12 billion) to Nepal in the upcoming fiscal 2022/23.

Indian Finance Minister Nirmala Sitharaman is presenting the Union Budget for 2022/23 fiscal in the Indian Parliament on Tuesday.

The Indian government had allocated Rs 9.92 billion (Rs 15.87 billion) to Nepal in the last fiscal year, 2021/22. The same was Rs 8.80 billion in fiscal 2020/21.

Likewise, in 2019-20, the southern neighbor granted Rs 11.98 billion (Rs 19.16 billion) to Nepal. The Indian government’s financial year runs from April 1 to March 31 the following year.

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