India will contribute Rs 4,500 crore to Bhutan for the 12th five-year plan, announced Prime Minister Narendra Modi.
Stating that India will always play the role of a trusted friend and partner, the Prime Minister said that the contribution will conform to the needs and priorities of Bhutan.
The announcement comes during the official three-day visit of Bhutanese Prime Minister Lotay Tshering.
In a statement, Prime Minister Modi said: "Collaboration in hydro projects has been an important part in the long history of cooperation between India and Bhutan. Today we reviewed our cooperation in all related projects in this important sector".
He also revealed that the Mange-Dechchu project will soon be completed and the tariff of the project has also been agreed upon.
Announcing a new dimension in India-Bhutan cooperation in space science, the Prime Minister stated that the Ground Station being constructed in Bhutan by ISRO to benefit from South Asian Satellite will soon be completed.
"Completion of this project will help in receiving weather information in the remote areas of Bhutan, telemedicine and disaster relief," Prime Minister Modi said.
The Prime Minister also revealed that the Bhutan government has decided to launch RuPay Cards soon.
"The Bhutan government has decided to launch RuPay Cards soon. Excellency, I express my heartfelt gratitude for this decision. I believe that this will give more emphasis on people-to-people relations between the two countries," he asserted.
Prime Minister Modi further stated that Bhutan Prime Minister shared his "narrowing the gap" vision for Bhutan which resonates with his own 'Sabka Saath, Sabka Vikas' vision.
Prime Minister Modi also congratulated the government and people of Bhutan for the successful operation of the third General Elections in Bhutan.
Welcoming Bhutan Prime Minister Lotay Tshering and his delegation to India, Prime Minister Modi stated that he hoped that his visit will strengthen and give momentum to India-Bhutan relations.