From 2015, India not to receive Financial Aid from UK
TNI Bureau: The growing domestic pressure forced the British Government to announce the stopping of financial aid to India from 2015. The UK government will continue to provide all assistance as per the promises made earlier, but till 2014.
Since there is a cut in the assistance in all type of financial aids, the British government would save over £200 million over the next three years. Britain will still remain involved in some Indian projects, which include technical assistance and investment in poverty alleviation projects.
The issue was already discussed at the government level during International Development Secretary Justine Greening’s visit to New Delhi earlier this week. India has already made it clear that it does not need, but wants to strengthen the trade relations with Britain.