Over Rs 62 crore Indian largesse coming

New Delhi, April 30:

Indian government has planned to release over Rs two billion that was due to Nepal under excise duty for two years. Besides, the Indian government is going to provide Rs 62 crore to Nepal in the near future as symbolic support.

According to an official at the Nepalese embassy here , the Indian government delayed to pay the amount to Nepal under excise duty after the Royal Nepalese army failed to pay the amount that was due to the Indian army.

Meanwhile the Indian Oil Corporation has said it is willing to accept deferred payment of an amount of Rs 1 billion 58 crores that the NOC had to pay it immediately. NOC owes it over Rs five billion. The Indian prime minister and high-level Indian officials have been saying that India is ready to provide any kind of support to the new government of Nepal.

Indian foreign Secretary Shayam Saran on Saturday met Indian Finance Secretary Adharsah Kishor and urged him to release the amount under excise duty to Nepal immediately, The Indian Express on its Sunday issue reported.

An official at Nepalese Embassy in Delhi said Nepal receives Rs 12 crores to Rs 14 crore under excise duty every month.

The official said the Nepalese authority was demanding Indian authority to provide the amount under excise duty, however, the Indian officials were demanding the Nepalese authority to pay 60 crores which was due to the Indian Army from the Nepalese Army.