MVR 428 million has been included in the annual state budget for 2021 to reduce the price of electricity in the country.

The proposed annual state budget of MVR 34.7 billion for the year 2021 entails MVR 3.7 billion for social protection including MVR 428 million to reduce electricity prices, MVR 366 to reduce food prices and MVR 94 million to improve goods and services.

The rest consists of MVR 718 million for health insurance, MVR 250 million for people with disabilities and MVR 60 million for single parents.

While MVR 428 million has been set aside to reduce electricity prices, MVR 148 million has been allocated for renewable energy projects.

The budget for this year had MVR 350 million to reduce electricity prices and MVR 254.3 million for food price reduction and MVR 445 million for goods and service.