For your kind information "Remittances" does not mean AID. foreign Remittances is the money sent by the diaspora to their kin. AID is a foreign government assistance.
No I am not talking about remittances.
India has received more foreign aid than any other developing nation since the end of World War II--estimated at almost $100 billion since the beginning of its First Five-Year Plan in 1951. And it continues to receive more foreign aid in spite of impressive economic growth for almost a decade. At the recent G20 meeting, India has asked the World Bank to raise the amount of money India can borrow from the bank for its infrastructure projects, according to Times of India. At present, India can borrow up to $15.5 billion as per the SBL (single borrower limit) fixed by the Bank.
Britain will spend over $1.5 billion during the next three years in aid to Shining India, a nuclear-armed power that sent a spacecraft to the moon recently, to lift "hundreds of millions of people" out of poverty, the British secretary of state for international development said last November, according to the Guardian newspaper.
Douglas Alexander, the first cabinet minister to visit India's poorest state Bihar, said that despite "real strides in economic growth" there were still 828 million people living on less than $2 a day in India.
UK's Department of International Development says if the UN's millennium development goals - alleviating extreme poverty, reducing child mortality rates and fighting epidemics such as Aids - are left unmet in India, they will not be met worldwide. Some 43% of children go hungry and a woman dies in childbirth every five minutes.
British Minister Alexander contrasted the rapid growth in China with India's economic success - highlighting government figures that showed the number of poor people had dropped in the one-party communist state by 70% since 1990 but had risen in the world's biggest democracy by 5%.
The World Bank said recently it will lend India $14 billion by 2012 to help the country overhaul its creaking infrastructure and increase living standards in its poor states, according to Financial Express.
The Indian government has estimated it needs $500 billion over the five years to 2012 to upgrade infrastructure such as roads, ports, power and railways.
A recent issue of San Jose Mercury News has a pictorial about grinding poverty in India done by John Boudreau and Dai Sugano. This heartbreaking pictorial illustrates the extent of the problem that India faces, a problem that could potentially be very destabilizing and put the entire society at the risk of widespread chaos and violence.
Left Behind | By Dai Sugano/San Jose Mercury News