India will no longer receive financial aid from the UK, from January 1, 2016.Decision was taken by the British government in 2012 after a domestic outcry about India’s growing economic status.
- Private Sector Development Initiative (PSDI): Introduced in 2011 for promoting private sector investment in eight low income states of Madhya Pradesh, Odisha, Bihar, West Bengal, Chhattisgarh, Jharkhand, UP and Rajasthan,will continue.
UK had provided financial aid for government programmes between
- 2013-2015: Rs 855.01 cr
- 2013-14: Rs 601.77 cr
- 2014-15 and 190.06 cr
Currently there are 26 government sector projects with DFID assistance at the Centre and in MP,Odisha, West Bengal and Bihar in health, education, governance and urban reforms sectors.
- Despite the UK promise to cut aid to India, there appeared to be a quashin development spending which rose to £279 million in 2014 from £268 million in the previous year.
- The only other country which received more than India was Ethiopia, but that showed a dip of £8million from 2013.
In 2014-15 and 2015-16, five new agreements have been signed for technical assistance projects.
*Points to remember: UK(United Kingdom)
- Capital and largest city: London
- Monarch: Elizabeth II
- Prime Minister: David Cameron
- Currency:Pound sterling
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