New Delhi: As per the revised estimates for the year 2023-24, Maldives received ₹ 770.90 cr as grants as against the ₹ 400 crore initially allocated for the financial year, according to the budget document presented by Finance Minister Nirmala Sitharaman, on Thursday.
The only other country which received more funds as grants from India is Nepal. It was granted ₹ 785 cr, nearly 15 cr more than that of Maldives. As regards to the upcoming year(2024-25), the budget estimates place Bhutan at the top with ₹ 1079 cr, followed by Nepal ₹ 700 cr.
The spending on Maldives came to light when the Interim Budget 2024 was presented by Finance Minister Nirmala Sitharaman, who announced a slew of significant investment strategies for the tourism sector here in India, in her sixth Union Budget.
The full-fledged budget will be presented by the new government that comes to power after the Lok Sabha elections this year.
Currently, the ties between India and the Maldives have hit rock bottom, especially after a few derogatory remarks made by Maldivian ministers against India and Prime Minister Narendra Modi. Notably, India is involved in several infrastructure projects in the Island nation.
Speaking to ETV Bharat, India's Former Ambassador Jitendra Tripathi said, "What needs to be seen is whether in the next budget the allocation for assistance to the Maldives will be curtailed or raised. Today, the Interim Budget has been presented, but the full-fledged budget will be presented after the elections."
He also pointed out that India is involved in a number of projects in Male. Some of them include construction of the Maldivian Institute of Technology, 500-bed hospitals, and several housing projects.
The revised estimates on Afghanistan for 2023-24 stood at ₹ 220 crore as against ₹ 200 crore initially allocated whereas, the revised estimates on Nepal was pegged at ₹ 650 crore as against ₹ 550 crore envisaged in the budget estimates.
It is noteworthy that during his visit to Nepal in January this year, EAM Jaishankar announced that India will be providing a financial assistance package of approximately ₹ 1,000 crore, with a major portion under grant assistance to the Nepalese government. The Interim Budget, a short-term financial plan, seeks Parliament's nod for a grant in advance to meet the government's essential expenditure for the first four months of the new financial year.
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