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India Gazette
2 days ago
- Business
- India Gazette
India, Bhutan hold development cooperation talks in New Delhi
New Delhi [India], June 30 (ANI): India and Bhutan held the Development Cooperation Talks in New Delhi on Monday. Secretary (West) Tanmaya Lal led the Indian delegation, and Foreign Secretary Aum Pema Choden led the Bhutanese delegation. 'India and Bhutan share an exemplary partnership characterised by trust, goodwill, mutual understanding at all levels, and strong bonds of friendship and close people-to-people ties,' the Ministry of External Affairs said in a statement. The Development Cooperation Talks are an important bilateral mechanism for reviewing the full spectrum of India-Bhutan's development partnership. According to MEA, the Government of India (GoI) has committed support of INR/Nu. 10,000 Crore (100 billion) for Bhutan's 13th Five-Year Plan period (2024-2029), which would cover Project Tied Assistance (PTA) projects, High Impact Community Development Projects (HICDP), support for Economic Stimulus Programme (ESP) and budgetary support in the form of Programme Grant. During the Talks, the two sides discussed various components of the support and reviewed the progress in the implementation of the projects approved in previous rounds. A total of 61 PTA projects amounting to INR/Nu 4958 crores (49.58 billion) and 283 HICDPs amounting to INR/Nu 417 crores (4.17 billion), covering a wide range of sectors, are in various stages of implementation, as per MEA. 'Both sides agreed to make suitable revisions to the allocations for some of the PTA projects, taking into account the evolving requirements. GoI has also released INR/Nu 750 crores (7.50 billion) towards ESP and Rs. 100 crores (1 billion) as Programme Grant. The meeting reviewed the progress in the utilisation of these funds,' MEA added. As per the MEA, the Bhutanese side presented the second tranche of PTA project proposals to be implemented during the 13th FYP period. A total of 10 projects amounting to INR/Nu. 1113 Crores (11.13 billion), covering sectors such as healthcare, connectivity, urban infrastructure and livestock, were approved by the two sides. Further the ministry higlighted that the Indian side 'conveyed that it will continue to work together with the Royal Government of Bhutan on its development agenda, in line with the shared vision of King of Bhutan Druk Gyalpo and Prime Minister of India Narendra Modi, and based on the priorities of the Royal Government and the people of Bhutan.' The ministry noted that the talks were held in a 'friendly and cordial atmosphere in keeping with the well-established tradition of regular exchanges and unique bonds of friendship and cooperation between the two countries. ' 'The two sides agreed to hold the next Development Cooperation Talks in Thimphu at a mutually convenient date,' it added. (ANI)
United News of India
2 days ago
- Business
- United News of India
India, Bhutan hold Development Cooperation Talks, review progress in implementation of approved projects
New Delhi, June 30 (UNI) India and Bhutan held their Development Cooperation Talks in New Delhi today, during which they reviewed the progress in implementation of the projects approved in previous rounds. The Indian side conveyed that it will continue to work together with the Royal Government of Bhutan on its development agenda, in line with the shared vision of His Majesty the King of Bhutan and Prime Minister of India, and based on the priorities of the Royal Government and the people of Bhutan. The Indian delegation was led by Secretary (West) Tanmaya Lal, and the Bhutanese delegation was led by Foreign Secretary of Bhutan Aum Pema Choden. India and Bhutan share an exemplary partnership characterised by trust, goodwill, mutual understanding at all levels, and strong bonds of friendship and close people-to-people ties. The Development Cooperation Talks are an important bilateral mechanism to review the full spectrum of India-Bhutan development partnership, a statement said. Government of India (GoI) has committed support of INR/Nu. 10,000 Crore (100 billion) for Bhutan's 13th Five Year Plan period (2024-2029) which would cover Project Tied Assistance (PTA) projects, High Impact Community Development Projects (HICDP), support for Economic Stimulus Programme (ESP) and budgetary support in the form of Programme the Talks, the two sides discussed various components of the support and reviewed the progress in implementation of the projects approved in previous rounds. A total of 61 Project Tied Assistance projects amounting to INR/Nu 4958 crores (49.58 billion) and 283 HICDPs amounting to INR/Nu 417 crores (4.17 billion) covering a wide range of sectors are in various stages of implementation. Both sides agreed to make suitable revisions to the allocations for some of the PTA projects taking into account the evolving requirements. GoI has also released INR/Nu 750 crores (7.50 billion) towards ESP and Rs. 100 crores (1 billion) as Programme Grant. The meeting reviewed the progress in the utilization of these funds. The Bhutanese side presented the second tranche of PTA project proposals to be implemented during the 13th FYP period. A total of 10 projects amounting to INR/Nu. 1113 Crores (11.13 billion), covering sectors such as healthcare, connectivity, urban infrastructure and livestock were approved by the two sides. The Talks were held in a friendly and cordial atmosphere in keeping with the well-established tradition of regular exchanges and unique bonds of friendship and cooperation between the two countries. The two sides agreed to hold the next Development Cooperation Talks in Thimphu at a mutually convenient date. UNI RN
Hindustan Times
2 days ago
- Business
- Hindustan Times
India and Bhutan approve 10 projects worth ₹1,113 crore
India and Bhutan on Monday approved 10 projects worth ₹ 1,113 crore, covering sectors such as healthcare, connectivity and urban infrastructure, and reviewed other programmes worth ₹ 10,000 crore being implemented with New Delhi's support in the neighbouring country from 2024-2029. An aerial view of Bhutan's capital Thimphu. (REUTERS) The Indian side also agreed to make revisions in the allocations for some projects because of evolving requirements. These issues were taken up during the India-Bhutan Development Cooperation Talks held in New Delhi, the external affairs ministry said. The talks are an important bilateral mechanism to review the full spectrum of bilateral development partnership, and both sides reviewed the progress in implementing projects approved in previous rounds. India provides most of the funding for Bhutan's five-year plans and has committed ₹ 10,000 crore for the 13th five-year plan from 2024-2029. This includes support for 'project tied assistance' (PTA) projects, high impact community development projects, the Economic Stimulus Programme (ESP) and budgetary support in the form of grants. A total of 61 PTA projects worth ₹ 4,958 crore and 283 community projects worth ₹ 417 crore, covering a wide range of sectors, are in various stages of implementation. The Indian government has also released ₹ 750 crore for Bhutan's ESP and ₹ 100 crore as programme grant and the meeting reviewed the progress in using these funds. The Bhutanese side presented the second tranche of PTA project proposals to be implemented during the 13th five-year plan. Ten projects worth ₹ 1,113 crore, covering sectors such as healthcare, connectivity, urban infrastructure and livestock, were approved by the two sides. 'Both sides agreed to make suitable revisions to the allocations for some of the PTA projects taking into account the evolving requirements,' the ministry said without giving details. India said it will continue working with the Bhutan government on its development agenda in line with the shared vision of the leadership of both sides, and based on the priorities of the government and people of Bhutan. The Indian delegation at the meeting was led by secretary (West) Tanmaya Lal and the Bhutanese team by foreign secretary Aum Pema Choden. The two sides also agreed to hold the next Development Cooperation Talks in Thimphu at a mutually convenient date.
