Britain has recently announced that it would cut the amount of aid it transfers to India yearly. The cut is believed to be almost half of what it actually gives to India ( 280 million pounds). This came in the wake of realization that Britain should cut its funding to emerging nations like India, China and Brazil while its own economic conditions are not so good. India however announced that it does not want any aid from Britain. Pranab Mukherjee, the then finance minister quoted during his term, that the aid India received was mere peanuts. I think India should have stopped taking the aid long back, because we are self sufficient and self dependent nation now.