India announces Rs 5000 crore aid for Bhutan's development

  • HT Correspondent, Hindustan Times, New Delhi
  • |
  • Updated: Aug 31, 2013 22:06 IST

Cementing its friendly ties further with Bhutan, New Delhi on Saturday announced an aid of Rs. 5,000 crore to help the neighbouring state for its social and economic development. The aid also included a special package of Rs 500 crore.

The announcement took place after talks between Prime Minister Manmohan Singh and his Bhutanese counterpart Tshering Tobgay. This is Bhutanese PM’s first foreign tour after winning the last month’s general election.

"Government of India reiterated its commitment to Bhutan's socio-economic development. The two countries agreed to work together to further strengthen bilateral relations," a joint statement said after the talks.

Rs 4500 crore is India’s assistance for Bhutan's 11th Five-Year Plan (July 2013- June 2018).

“Rs 500 crore is towards an Economic Stimulus Package," the statement said. Bhutan is also tackling financial slowdown and sought New Delhi’s help to revive its economy. The Bhutanese Pm also met President Pranab Mukherjee.


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