The Indian government’s budget allocation for the Ministry of External Affairs in the fiscal year 2024-2025 has marked an increased allocation for Sri Lanka.
According to Indian media, Sri Lanka has received an increased budget allocation, alongside other neighbouring countries, such as Nepal and Seychelles.
The increase is dependent on the needs and requirements of each country and these allocations are intended for infrastructure support and development projects.
Sri Lanka has seen a noteworthy increase in its allocation, with INR 245 crore earmarked for FY 2024-2025, up by INR 95 crore from last year’s allocation of INR 150 crore.
This rise comes as Sri Lanka continues to navigate economic recovery, and India’s support is seen as crucial in these efforts. Delhi had provided support of $4 billion to aid Sri Lanka’s recovery.
India-funded projects in the neighbourhood have received the bulk of the allocation for the Ministry of External Affairs under the Union Budget presented by Finance Minister Nirmala Sitharaman on Tuesday. (Newswire)
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