From The Land Of Spirituality, To The Land Of Happiness: India Gives Bhutan Financial Assistance Of Rs 4,500 Crore 

PM Narendra Modi welcomes PM of Bhutan Dr Lotay Tshering (Image courtesy of twitter.com/MEAIndia)

On Friday (28 December), Prime Minister Narendra Modi announced that India will be providing a financial assistance of Rs 4,500 crore to Bhutan as part of the 12th Five-Year Plan. The decision was announced after talks with the Bhutanese counterpart Lotay Tshering.

An integral part of the bilateral ties is the cooperation on hydro-power, PM Modi said. Furthermore, work on the Mangdechhu project will reach completion soon. Reassuring Tshering that India will continue to remain a trusted friend, Modi announced the financial assistance plan.

The Bhutanese PM said that PM Modi was the first head of state to congratulate him on his electoral victory. Bhutan’s new five-year plan will commence this year and end by 2022. After receiving a ceremonial welcome at the Rashtrapati Bhavan, Minister of External Affairs Sushma Swaraj congratulated the PM on his assumption of high office, The New Indian Express reported.

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