Ours is not an aid-dependent country, but no harm in using foreign aid: Chidambaram

New Delhi (The Hindu) - Finance Minister P. Chidambaram on Tuesday ruled out India accepting "tied aid" or any external aid with binding conditions.

While stressing that it was not an aid-dependent country, he said there was no harm in utilising aid as it provided access to improved technology and acted as a disciplining factor.

Addressing the Parliamentary Consultative Committee attached to his Ministry here, Mr. Chidambaram said external assistance played a major role in the development process. It was a significant source for financing major infrastructure projects, social sector schemes and building up institutional capacity. Out of the 434 ongoing externally assisted projects, 226 were being implemented in the State sector and the rest...

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Posted by rjorr at June 28, 2006 9:06 AM