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Biden Proposes Increased Funding to India

Biden Proposes Increased Funding to India

India-West News Desk

WASHINGTON, DC – President Joe Biden wants developmental assistance to India in clean energy, digital economy, and also in combating increasing authoritarianism to be increased.

The proposal would raise the numbers from $25 million in 2021 to $66 million for the fiscal 2023 is part of the State Department’s developmental assistance for the fiscal 2023, which was sent by the White House to the US Congress on Mar.28.

“The funding increase for India supports India’s role as a regional leader by increasing clean energy and other climate programming. Funds will also advance investments in the digital economy,” said the State Department’s portion of the budget.

“Assistance will combat increasing authoritarianism, bolster human rights and strengthen civil society participation and democratic governance,” the State Department said.

The Biden Administration has also proposed an increase in health assistance from $34.5 million in 2021 to $48.5 million in 2023.

The State Department cited a program Treasury’s Office of Technical Assistance to India as one of its success stories. With OTA support, India’s Ministry of Housing and Urban Affairs made significant progress in its Smart Cities program to promote issuance of local project debt by cities, the State Department said.

OTA previously worked with the Indian municipality of Pune to help facilitate its first bond issuance in 2017. Based on this success, OTA and the Ministry of Housing of Urban Affairs expanded collaboration to include six additional cities — Vadodara, Pimpri Chinchwad, Rajkot, Faridabad, Mangaluru and Mysuru.

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