India transforming, says USAID

Government said on Tuesday US Agency for International Development, 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 per cent 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 seven per cent. 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.

Out of this, 84 per cent is proposed for Afghanistan and Pakistan, Bansal added.