NEW DELHI – The government will spend close to 50 crore ($10 million) on welfare schemes targeted at overseas Indians in 2012-13, according to budgetary estimates proposed by Finance Minister, Pranab Mukherjee.
The Ministry of Overseas Indian Affairs (MOIA) has been allocated a total of 114.77 crore for the next fiscal, a 41 percent increase from the 2011-12 budget outlay of 81 crore.
The ministry will also spend 6 crore on celebrating the Pravasi Bharatiya Diwas. The rest of the 114.77 crore will go towards establishment and infrastructure expenses.
India has the world’s second largest overseas community, next only to China. It is estimated that there are about 25 million Indian diaspora spread over more than 110 countries around the world.
The MOIA was established as a separate ministry in 2004 to look after the welfare of the Indian diaspora and to provide them assistance across economic, social and cultural spheres.
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