Local media outlets in Maldives have reported widely on the increase in the budgetary allocation to the archipelago nation. India has raised its aid to the Maldives by 50% compared to the previous fiscal year, with the allocation included in the budget for the new fiscal year.
Finance Minister Nirmala Sitharaman presented the budget in the Parliament on February 1, outlining foreign aid distributions. While Bhutan remained the top recipient, the Maldives’ allocation stands at approximately USD 68.7 million which translates to about 600 crore rupees, up from an initial allocation of about 400 crore rupees. Meanwhile, the allocation to Sri Lanka also increased to 300 crore rupees up from 245 crore rupees.
India remains a key development partner for the Maldives and Sri Lanka, supporting major infrastructure and community development projects.
