India's budget for this year is ~ $270B. So this "aid" from Britain (most of which would be absorbed by British charities buying British goods and hiring British consultants anyways) amounts to about 0.1% of the budget. Sounds pretty miniscule to me; and in terms of impact, would have roughly the same effect as a flea jumping on an elephant.
[1] http://en.wikipedia.org/wiki/2013_Union_budget_of_India