Monday, February 12, 2007

U.S. to end financial aid to India – Coto de Caza Largesse to Continue

U.S. to end financial aid to India – Coto de Caza Largesse to Continue

Friday, February 12, 2007

Washington: As a result of India's booming economy, the United States has decided to end all financial aid to the country, according to The Times Of India.Citing New Delhi's growing economic performance and changing profile, the current aid of $ 124.9 million aid in 2006 is being cropped to a meager $ 81 million for the coming fiscal, recording a drop of 35 percent.

By US estimates, India has received the equivalent of $14 billion in American economic assistance ($57 billion in today's dollars) from the time Washington opened the aid flow in 1951. US bilateral financial assistance to India has been thinning steadily after peaking in 1960 when Washington gave $ 1.6. billion, 92 percent of it as food aid, to a country that was widely considered a basket case.

According to the Hindu Business Line “India Inc has yet again pleasantly surprised investors with commendable results for the quarter ended December 2006, leading to renewed buying interest” A survey by Hewitt Associates shows that wages in India rose 13.8% in 2006, and that middle class households take home more roughly $22,000 annually. In contrast, the Coto de Caza median household income in 2000 was $136,726/year, Yet CZ Association residents have seen two consecutive monthly dues increase to finance an administration’s largesse that includes a renovation of Coto de Camel Drive, training programs for poorly performing service providers and handouts for anyone who stops by, with the only caveat that the administration is not criticized.

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