UNITED NATIONS:: India has paid its 2023 annual contribution of USD 30.54 million to the United Nation budget, a UN spokesperson Said.
India is one of the 43 nations that have so far paid their contributions to the budget, according to Secretary-General Antonio Guterres' spokesperson Stephane Dujarric on February 13. The UN reports that India's contribution was received on February 10. The estimated percentage of India's USD 3.217 billion budget is 1.044 percent.
Despite the fact that it comes to USD 33.592 million, the UN receives a credit of USD3.052 million from its Indian employees in place of the income taxes they would have otherwise had to pay.
A complicated formula that takes into account debt load, gross national income (which is defined as the gross domestic product plus income from abroad), and an adjustment for per capita income using the "capacity to pay" principle determines the rate of budget assessments for each of the 193 member countries.
India claims to have the fifth-largest economy in the world, but this boast is undermined by the country's low "capacity to pay" due to low per capita income. This places its estimate behind that of some other emerging nations like Mexico at 1.221 percent and Brazil at 2.013 percent.
The assessment for the United States is 22 percent, the maximum that may be assigned to a nation, or USD707.897 million. China is ranked second with a rating of 15.254%, or 490.83 million.
Britain, whose economy was surpassed by India in terms of size, contributes USD140.775 million or 4.375 percent, making it the fifth-largest donor after Japan and Germany.
In addition to paying into the main UN budget, nations are also required to contribute to the capital, peacekeeping, and international tribunal budgets using the same methods.
Last year also, India was among the handful of only 34 UN member states that had paid their regular budget dues in full and on time to the world organisation.
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