India to finance 'sensitive' areas' projects itself: Krishna

[gpit]

From correspondents in Delhi, India, 10:00 PM IST


After clashing with China at Asian Development Bank (ADB) over funding for a project in Arunachal Pradesh, India has decided not to approach international agencies to finance schemes in 'sensitive' areas, External Affairs Minister S.M. Krishna said Monday.

'It is a conscious decision taken by government of India that all projects in sensitive areas will be funded by our own internal resources,' Krishna told reporters on the sidelines of a function to launch a website on India-Africa relations.

He said India will then 'not have to put (its) palm (before) multilateral agencies to fund these projects'.

Krishna said that decision was reached as there is 'always an element of uncertainty with regards to international funding'. 'Whereas, if it is element of internal funding, there is certainty,' he said.

His remarks come in the background of China raising objections to ADB funding for Arunachal Pradesh's flood management project.

Krishna had told parliament July that China's objection had been in clear violation of the charter of the multilateral lending agency.

India to finance 'sensitive' areas' projects itself: Krishna : In.com : Read - India eNews

 

[Brahm0s]

Thats gr8 news. China with their little tiny countries were stoping loans by veto power. India took right decision. When the loan got rejected it was all over anurachal pradesh news papers what china did. People kept spiting on china's posters and burned it. India done alot gr8 by deciding to fund internally rather than taking help internationaly. Cheers.

 

[gpit]

Thats gr8 news. China with their little tiny countries were stoping loans by veto power. India took right decision. When the loan got rejected it was all over anurachal pradesh news papers what china did. People kept spiting on china's posters and burned it. India done alot gr8 by deciding to fund internally rather than taking help internationaly. Cheers.

Does GOI have spare money? Wake up, GOI is high in deficit, and your credit is close to junk. Yes, J.U.N.K - that means garbage, trash, waste...

India's Deficit Threatens 'Junk' Rating

Standard & Poor's warns India of further downgrades as the country's exports sink and extra borrowing raises its deficit to 12% of GDP

India's Deficit Threatens 'Junk' Rating - BusinessWeek

 

[jeet]

Does GOI have spare money? Wake up, GOI is high in deficit, and your credit is close to junk. Yes, J.U.N.K - that means garbage, trash, waste...

We have enough money... We have lots of Foreign reserves which we can use it for our development... No need to worry...

 

[arihant]

Does GOI have spare money? Wake up, GOI is high in deficit, and your credit is close to junk. Yes, J.U.N.K - that means garbage, trash, waste...

It has more than Pakistan. I think you still live in 1947.

 

[indian_pm]

ppl having wrong info's about India ....we can build anythng by ourown resources n funds ....China must to start licking its A§§...

 

[Developereo]

It has more than Pakistan.

But chump change compared to China.

Or have you finally given up trying to compare yourself to China?

 

[Tango25]

What is wrong with this forum? Can't you people write a single post without some cheap flame comments?

 

[hack]

But chump change compared to China.

Or have you finally given up trying to compare yourself to China?

Does China compare herself to the US?...similarly India compares herself to China and Pakistan to India.Same dynamic.

 

[Hutchroy]

Does GOI have spare money? Wake up, GOI is high in deficit, and your credit is close to junk. Yes, J.U.N.K - that means garbage, trash, waste...

Sorry, but, India uses it own money - indeed.

India does not go BEGGING to the You Ess of Ay to "Give" USD 100 Billion as a Marshal Aid Plan or the Friends or even the Democratic Friends to cough up another USD 100 Billion or more!

Wake Up and Smell the Coffee.

 

[Gabbar]

Who said India doesn't ahve money............?

India’s Forex reserves USD 271.641 billion​

India’s Forex reserves rose by USD 3.930 billion to USD 271.641 billion for the week ended July 31 from USD 267.711 billion in the previous week.

Foreign currency assets (FCAs), during the week, jumped to USD 260.631 billion, up USD 3.974 billion, as compared to USD 256.657 billion in the previous week, the RBI data said.
FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, RBI said in its weekly report.

Gold reserves, during the period under review, declined by USD 129 million to USD 9.671 billion, as against USD 9.800 billion in the previous year. The special drawing rights (SDR) stood unchanged at USD 1 million, the central bank said.

India’s reserve position in the International Monetary Fund (IMF) rose by USD 85 million to USD 1.338 billion as compared to USD 1.253 billion in the previous week, RBI said.