New Delhi: The Government said on 14 December the US Agency for International Development (USAID), which assists nations in undertaking development work, has upgraded India’s status from a developing country to a transforming country.
India registered a 9.4% growth in gross domestic product in the last fiscal, driven by sectors like manufacturing and Information Technology. In the previous two years also, the country posted a GDP growth of more than 7%.
In view of the booming Indian economy, the USAID has now upgraded the economic status of the country from a developing country to a transforming country, Minister of State for Finance Pawan Kumar Bansal informed Rajya Sabha in a written reply.
“For the US Fiscal year 2008, USAID has requested US government for foreign assistance of $81 million to India. However, the budget for fiscal year 2008 has not been approved by US Congress as yet,” he said.
Meanwhile, USAID has requested the US Congress to sanction $2.198 billion as foreign assistance for South and Central Asian countries. Of this, 84% is proposed for Afghanistan and Pakistan, Bansal added.