Britain will quickly stop giving development assist to India by 2015. This marks a level inside the concept of foreign aid, and questions regarding the worldwide future of international aid have been raised.
Having visited India I have come across firsthand the tremendous progress being made,�h the British development secretary, Justine Greening, said Nov. 9, while announcing no more greater than 50 years of assist to India. �gIndia is successfully developing, and our personal bilateral relationship has to match Modern day India,�h she said.
The Us urged civilized world to invest 0.7 percent of the national income on help to poorer nations. In line with the latest figures of the Development Assistance Committee, a consortium from the world�fs main donors, the globe gave nearly $120 billion in assistance to the third world last year, or 0.32 percent. America, which donated nearly $30 billion this season, sits near the top of the list.
However, the usual donors are reconsidering the necessity of foreign aid. For instance, the United States is facing a low cost crisis that contains proposals that will reduce the billions in foreign aid it provides.
For India, when the world�fs largest foreign aid recipient, with a few $55 billion funneled towards the country between 1951 and 1992, the modification from recipient to donor may come as the country attempts to redefine its role within the international community. It now's helping fund international aid for further impoverished countries than itself. This progress in India is remarkable and proves the strength of foreign aid, but their lack of funding raises concerns around the world about who is next on the chopping block.