New Delhi

India's interim Budget figures show a substantial boost in allocation for Maldives, with the revised budget standing at Rs 770.90 crore for the fiscal year 2023-24. This marks an increase from the initial allocation of Rs 400 crore for the same financial year. The island nation has seen the highest increase in allocation by New Delhi for the neighbouring countries it extends financial support.

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The increased allocation in the interim Budget reaffirms India's commitment to furthering major infrastructure initiatives and development projects in the Maldives. India is supporting the country's biggest infrastructure project, the Greater Malé Connectivity Project (GMCP). 

New Delhi has kept Rs 600 cr for the counrty for the financial year 2024-2025, indicating that the support will continue.

Similarly, Nepal and Afghanistan also witness an uptick in allocations in the interim Budget. Nepal receives an additional Rs 100 Cr, bringing its total allocation to Rs 650 Cr, while Afghanistan sees a modest increase of Rs 20 Cr, with a revised allocation of Rs 220 Cr. Both figures are allocated in the revised budget for 2023-24.

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Grants and loans to foreign governments points to India's support for regional developments when it comes to FY 2023-24 budget figures. At the forefront of India's foreign assistance is Bhutan, with a substantial allocation of Rs 2398.97 crore. This significant amount underscores the special relationship between India and Bhutan, emphasising India's role as a key development partner in the region.

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Among the recipients, Bangladesh received an allocation of Rs 130 crore, while Mongolia has been allocated Rs 5 crore, emphasising India's engagement with nations beyond its immediate vicinity. Mauritius, Seychelles, and Myanmar receive substantial allocations of Rs 330 crore, Rs 9.91 crore, and Rs 370 crore respectively, highlighting India's efforts to support the socio-economic development of these countries.

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A notable allocation of Rs 100 crore is earmarked for the Chabahar port project, underlining India's commitment to enhancing connectivity and trade in the region. This allocation reaffirms India's strategic interest in the Chabahar port and its potential to serve as a key gateway for trade and commerce.