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Wednesday, 7 July 2010

Britain’s Foreign Aid to India: £1.9 Billion. Cost of India’s New International Airport: £1.9 Billion

India has just opened a state-of-the-art international airport in New Delhi which sprawls over 1.5 square miles, has 97 automated walkways, 88 aerobridges and which cost £1.9 billion – exactly the amount which British taxpayers have given that nation in “foreign aid” over the past ten years.
The new airport was opened last Saturday and was showcased at a special ceremony by Prime Minister Manmohan Singh ahead of opening to the public later this month.
"This is a demonstration of what India is truly capable of," Civil Aviation Minister Praful Patel was quoted in press reports as saying at the inauguration ceremony at the Indira Gandhi International Airport.
The airport is India’s third world-class airport after Hyderabad and Bangalore but is by far the largest.
“It's an advertisement of India's ability to create world-class infrastructure," economist DH Pai Panandiker, who heads the independent RPG Goenka Foundation in New Delhi, a private economic think tank, told a news agency.
India has Asia's third-largest economy after China and Japan and its airline passenger traffic rates are among the world's highest.
The International Monetary Fund (IMF) says that India’s GDP is $3 trillion and that Britain’s is $2.2 trillion.
In addition, the IMF says, India has the eleventh largest economy in the world by nominal GDP (just behind Canada, Spain and Brazil) and the fourth largest by purchasing power parity (PPP).
By way of contrast, Britain has the sixth largest economy in the world by both nominal GDPand purchasing power parity (PPP).
In other words, comparatively and literally speaking, the Indian economy is larger than Britain’s.
Despite this, British taxpayers continue to pump foreign aid into India via the Labour-Conservative-Lib Dem foreign aid racket.
To make matters worse, Britain is officially bankrupt and has to borrow the money to make up the foreign aid budget.
Over the last ten years, a total of £1.9 billion has been given to India by the Department for International Development.
The time has come to end the foreign aid swindle and put British people first.