Chabahar Port Project Gets No Funds in Union Budget Amid US Sanctions

• India has not allocated any funds for the Chabahar port project in the latest Union Budget, a significant departure from previous years.
• This decision comes amidst fresh US sanctions on Iran, impacting India's financial commitments to the project.
• Previously, India annually allocated Rs 100 crore for the Chabahar port, located in Iran's Sistan-Balochistan province.
• The US had granted India a six-month waiver from sanctions for the Chabahar project, which is set to expire on April 26.
• India is actively engaging with the US regarding the Chabahar port project, which is crucial for regional connectivity and trade.

Why It Matters: India halts Chabahar port funding in Union Budget due to US sanctions on Iran, impacting regional connectivity.