India has signalled its intent to press ahead with development of the Chabahar port in Iran with the allocation of Rs100 crore in the budget of the Indian foreign ministry. The port is of strategic significance to India given that New Delhi sees it as the route to access landlocked Afghanistan and Central Asia by passing Pakistan.
In the budget for 2020-21 announced on Saturday, Finance Minister Nirmala Sitharaman has earmarked Rs17,372.27 crore for the Indian foreign ministry, marginally lower than what was allocated in the 2019-20 budget in which the ministry was allocated Rs17,346.71 crore. The reduction in budget outlay was most significant for Nepal, where the reduction has been Rs400 crore – from Rs1,200 crore in the 2019-20 budget to Rs800 crore in the 2020-21 budget. Read More…
