Tue. Mar 19th, 2024

Indian Prime Minister Narendra Modi announced on Friday, that India would provide Rs 4,500 crore assistance to Bhutan for its 12th five-year economic plan. The deal was signed at a meeting between Bhutan’s Prime Minister Lotay Tshering and Modi on Thursday, in India.

According to news reports, Rs 400 crore transitional trade support facility to Bhutan over five-year-period, was also announced by India, to strengthen their bilateral ties and economic links. Modi has assured Tshering that India would stay reliable partner for Bhutan and would play a role of friend. Both officials meet was aimed at boosting their ties with the news government.

According to reports, the five-year plan in Bhutan would start this year and would reach to an end in 2022. Underlining the importance of hydropower projects in Bhutan, Modi said Mangdechhu project would soon complete. 720 mw hydroelectric project “Mangdechhu” in central Bhutan at the Mangdechhu river, would be soon completed.   This project will increase close economic links with the Himalayan nation.

Indian PM said: “Today, we discussed this crucial sector and reviewed cooperation on all the major projects. Work on the Mangdechhu project will be completed soon. We have agreed on the tariff for this project. Work on other projects has been happening at a very satisfactory pace.”

Tshering said: “We are very happy that the government of India is fully committed to support whatever negotiations that are going on for determining tariff for power from Mangdechhu project as well as to make Sankosh (hydropower) project happen as soon as possible.”

In fact, Modi thanked Tshering for introducing Indian RuPay card (debit and credit card payment network) in Bhutan. Modi assured Tshering to help Bhutan trade which was hit by Indian GST.

The Bhutan PM said: “We are very very happy that PM Modiji has personally committed to be with us, to support us … Government of India has extended full support for our XII Five-Year Plan and also to our traders who are being affected by the GST that has come into action in India.

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