India increases aid for Maldives to USD 93.8m

Regional superpower India has allocated USD 93.8 million (MVR 1.4 billion) from its 2024-25 budget to provide aid to the Maldives– up from the initial projection of USD 72 million (MVR 1 billion).

In a weekly press briefing on Thursday, Indian External Affairs Ministry spokesperson Randhir Jaiswal addressed speculations regarding the budgetary allocation to the Maldives.

According to the interim budget document released by Indian government on February 1, it allocated ₹ 600 crore – equivalent to USD 72 million. This is USD 20 million less than last fiscal year, when India allocated USD 92 million.

When asked about the reduction in aid to the Maldives, Jaiswal responded that the amount had been raised from the initial projection, and that India continues to be a "committed development partner" for Maldives.

"There are many conflicting ways, in which people are this budgetary. I saw some media reports saying that the allocation has gone up, some are saying it has gone down. Certain amount of money is allocated and then revisions are made, and thereafter there is a phase of revision, during that phase of revision, new proposals are considered," he said.

"The allocation for Maldives this time is ₹ 779 crore as against ₹ 600 crore projected earlier. The new figures will also be revised when we have more clarity on what sort of forward movement is happening. We remain a committed development partner for Maldives."