Modi govt slashes funding for Iran’s Chabahar Port but is open to spending more if needed


Modi govt slashes funding for Iran’s Chabahar Port but is open to spending more if needed

The Narendra Modi government has slashed the budget allocation for the development of Chabahar Port in Iran by more than half in 2019-20 amid tension between Washington and Tehran over the latter’s nuclear programme. But New Delhi will sanction more funds for the project if required, ThePrint has learned.

While Finance Minister Nirmala Sitharaman has diverted a substantial amount of funds mainly towards enhancing India’s aid to Nepal, Maldives and Mauritius, allocation of funds for Chabahar Port, which New Delhi is developing, was reduced to Rs 45 crore in the financial year 2019-20 from Rs 150 crore in the last fiscal.

“The allocation is based on anticipated expenditure at Chabahar, which includes the operational cost and cost envisaged for the purchase of equipment. Read More

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