No tied aid - FM
The Finance Minister Shri P. Chidambaram ruled out any possibility of accepting ‘Tied Aid’ or any external aid with binding conditions. He was addressing the Consultative Committee Meeting attached to his Ministry, here today. Opening the discussion on “Externally Aided Projects: Policy and Programme”, the Finance Minister said that the external assistance has played a major role in the development process in India. It has been a significant source for financing major infrastructure projects, projects in the social sector and building up institutional capacity. There are 434 ongoing externally assisted projects out of which 226 are being implemented in the State Sector and the balance are Multi-State/Central Sector projects.