India has substantially decreased its aid to Nepal for fiscal year 2020-21 in the budget presented by Indian Finance Minister Nirmala Sitharaman, on Saturday.
According to the budget speech, the southern neighbour allocated INR8 billion (Rs12.8 billion) for Nepal. In the fiscal year 2019-20, India had allocated INR10.5 billion (Rs16.8 billion), which was later revised to INR12 billion (Rs19.2 billion).
Based on the revised allocation of fiscal year 2019-20, allocation in the new fiscal year has been cut down by 33 percent.
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Economic growth can be defined as a society's increased ability to produce goods and services in a specific time period. Because more goods and services are needed, more people need to work in order to meet the demand. Because more money is flowing within the society to purchase these goods and services, it is possible to pay employees a higher wage. Therefore, when economic growth can be sustained, it provides more job opportunities and a higher income. This ultimately lead to a higher standard of living.
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b. devolping countries
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Developing countries because when a country is being developed new buildings, skyscrapers etc will be built which can result in death of laborers and developing countries are the poorest.
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Nationalism caused new nations to be formed such as Germany and Italy. - These nations challenged the supreme position of older European nations. - Nationalism also threatened to break apart empires, such as Austria – Hungary, because different ethnic groups wanted independent nations of their own.
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