The President presents the budget speech for the year 2024- Rs. 10,000 increase in the Government employees Cost of Living Allowance

The President presents the budget speech for the year 2024
 A Rs. 10,000 increase in the Government employees Cost of Living Allowance
 A Rs. 2,500 increase in the monthly Cost of Living Allowance of public pensioners
 Proposals to establish four new universities

Hon. Ranil Wickremesinghe, the President stated Nov-(13) that the Cost-of-Living Allowance of Rs. 7,800 government employees are currently receiving shall be increase to Rs. 17,800 by Rs. 10,000 from January, 2024 while presenting the budget speech.

The President further stated that this allowance will be added to the monthly salary from the month of April and that steps will be taken to pay the balance accumulated from January to March 2024 in installments within a 6-month period, starting from October 2024.

The President further stated that the monthly Cost of Living Allowance of public pensioners will be increased to Rs. 6,025 by Rs. 2,500.
It was also stated that steps have been taken to establish four new universities considering the current trends for the technical sector.
Accordingly, steps have been taken to establish Seethawaka Science and Technology University (Lalith Athulathmudali Post Graduate Institute will be incorporated to this University), Kurunegala Technology University under the Kothalawala Defence University, Management and Technology University, International University of Climate Change.
The President arrived at the Parliament premises at around 11.30 this morning to deliver the budget speech. Thereafter, the President presented the budget speech for the year 2024 at around 12 noon. This was presented as the 78 th budget speech of an independent Sri Lanka.

Following the presentation of the budget speech, the Hon. President, the Hon. Prime Minister and the Ministers and diplomats joined for lunch held in the Members dining room. According to the Appropriation Act of 2024, the total government expenditure is approximately Rs. 7,833 billion out of which Rs. 3,861 billion have been allocated. From November (14) to the 21 st , the debate on the Second Reading of the Appropriation Bill (Budget) will be held on all 7 days excluding Sundays. Moreover, the Second Reading of the budget is scheduled to be held on Tuesday, November 21 st at 6:00 pm.

Thereafter, the Committee Stage Debate will be held for 19 days starting from Wednesday, November 22 nd to Wednesday, December 13 th , excluding Sundays. Accordingly, the Third Reading of the budget for the financial year 2024 is scheduled to be held on Wednesday, December 13 th at 6:00 pm. During the budget debate period, time is allotted for 5 Questions for Oral Questions from 9.30 am to 10.00 am every day. Thereafter the debate is scheduled to be held from 10.00 am to 6.00 pm and the Motion at the Adjournment Time will be held from 6.00 pm to 6.30 pm every other day except for the days voting has been scheduled.