Home » Ranil's to present historic Budget in Parliament today!

Ranil's to present historic Budget in Parliament today!

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President Ranil Wickremesinghe, as the Minister of Finance, would present the Appropriation Bill with state expenditure exceeding Rs.4 trillion for the first time in the history of Sri Lanka, to the Parliament at 1 pm today (30).

Accordingly, Parliament is scheduled to convene at 1 pm today and once the President addresses Parliament from 1 to 2 pm, it will be adjourned until 9:30 am tomorrow (31).

The debate on the second reading of the Appropriation (Amendment) Bill is scheduled to be held without a lunch break from 9.30 am to 5.30 pm tomorrow (31), on September 01 and 02. 

The second reading of the Appropriation (Amendment) Bill will be debated on September 2 from 9.30 am to 4.30 pm, after which the Bill is scheduled to be passed following the Committee Stage debate and the third reading.

Accordingly, in place of the words "Two Thousand Seven Hundred Ninety Six Billion Four Hundred Forty Six Million Five Hundred Fifty Eight Thousand Rupees (Rs.2,796,446,558,000)" mentioned in Subsection (1) of Section 2 of the Appropriation Bill No. 30 of 2021, the words "Three Thousand Two Hundred and Seventy Five Billion Eight Hundred Seventy Six Million Five Hundred Fifty Eight Thousand Rupees (Rs.3,275,876,558,000) will be substituted.

According to the Appropriation Bill earlier presented, an amount of Rs.2,796.4 billion was estimated from January 1, 2022 to December 31, 2022 as the government's ministerial service expenses for the fiscal year 2022. According to the new amendment, the estimated amount allocated for the government's ministerial service expenses in the year 2022 will increase to Rs.3,275.8 billion, and accordingly, the expenditure required for the service expenses has increased by Rs.929.4 billion.

Clause (b) of sub-section (1) of section 2 of the Bill will be amended by substituting the words three thousand two hundred billion rupees (Rs. 3,200 billion) with the words four thousand and eighty two billion rupees (Rs. 4,082 billion).

The progress of 31 pledges made by Basil in 2021 Budget is 6%

The government has fulfilled only 6% of the 2021 Budget promises made by former Finance Minister Basil Rajapaksa, and 46% of the progress has not yet been disclosed, the Verité Research said.

Among the neglected projects are those related to health services, water supply and education.

This was disclosed in a press release issued by Verité Research under the title "Where are we heading with the interim budget?" 

It has been revealed in a survey that in comparison to other countries, Sri Lanka is in the 93rd position regarding the 2021 Budget.

The Verité Research Institute mentioned in its press release about the actions that the current as well as future governments should take in order to build public confidence regarding the Budget.

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