Source-This post on India increases allocation for Maldives is based on the article “India increasing allocation for Maldives, ₹400 crore revised to ₹770.9 crore” published in “The Hindu” on 1st February, 2024.
Why in the News?
In the interim budget of 2024, Maldives received a significant portion of the annual allocation for the Ministry of External Affairs. The annual allocation is done under the foreign aid program.
What is the India’s foreign aid Program?
1) India’s foreign aid program began in the 1950s through the Colombo Plan. Under this, aid is provided by the Indian government to other governments.
2) India has established the ‘Indian Agency for Partnership in Development‘ under the Ministry of External Affairs to distribute aid to recipient nations.
How is aid distributed to various countries in the Interim Budget 2024?
| Countries/Projects | Revised 2023-24 (in crore) | 2024-25 (in crore) | Remarks |
| Bhutan | 2,398.97 | 2068 | |
| Nepal | 650 | 700 | |
| Maldives | 770.9 | 600 | The allocation for Maldives in 2023-24 was ₹400 crore. It increases to ₹770.9 crore in the revised estimate 2023-24. |
| Afghanistan | 220 | 200 | |
| Chabahar in Iran | 100 | 100 |
Note– The government has decreased its total allocation of foreign aid for the upcoming fiscal by 10 percent. India has earmarked Rs 4883.56 crore for foreign assistance in 2024-25, down from Rs 5426.78 crore allocated in 2023-24.
UPSC Syllabus- Indian Economy/International Relations
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.
