Home / News/ Cabinet nod for Appropriation Bill 2018

Cabinet nod for Appropriation Bill 2018

Comments / {{hitsCtrl.values.hits}} Views / Thursday, 14 September 2017 00:18


By Chathuri Dissanayake

The Cabinet yesterday approved the Appropriation Bill for 2018 to be presented in Parliament during the last week of this month. 

The Ministry of Finance estimates a total expenditure for 2018 of Rs. 3,982 billion. The amount includes Rs. 1,308 billion for recurrent expenditure and Rs. 668 billion for capital expenditure. Further, this also includes Rs. 2,005 billion needed to service public debt and payments for widows and orphans, pension, etc.  

The Government estimates revenue of Rs. 2,175 billion from foreign grants while another Rs. 1,813 billion is need to be financed through loans to be obtained from both foreign and domestic sources.

Cabinet also gave approval to the proposal made by the Prime Minister Ranil Wickremesinghe to present Budget 2018 on 9 November, while the debate on the second reading will be held on 10,11,13,14 and 15 November. The committee stage debate will kick off on 16 November and the vote on the third reading of the budget will be taken on 9 December.  According to the Appropriation Bill proposed by Finance Minister Mangala Samaraweera, the allocation for the Defence Ministry remains the highest in the budget with a total recurrent expenditure of Rs. 260.7 billion while capital expenditure is Rs. 30 billion. The Finance Ministry has been allocated Rs. 190.517 billion while a total of Rs. 37.054 billion has been allocated as capital expenditure. 

The Appropriation Bill proposes a total of Rs. 4.178 billion as recurrent expenditure for the Ministry of National Policies and Economic Affairs along with another Rs. 21.55 billion as capital expenditure. The total recurrent expenditure of the Ministry of Health, Nutrition and Indigenous Medicine for 2018 will be Rs. 134.399 billion while another Rs. 44 billion will allocated as capital expenditure. 

Share This Article


Today's Columnists

Why are interest rates high?

Wednesday, 20 September 2017

The general public is concerned about the high level of interest rates prevailing in the recent past. Interest rates influences the day-to-day life of ordinary people as it is the benchmark for all economic decisions.

Dream or nightmare?

Wednesday, 20 September 2017

An air of unreality pervades the country. What you see is not what it is; fact, truth, reality - mere words, having no intrinsic meaning. An illusion shrouds another illusion; a maya merely hides another ‘maya’, a bottomless pit of deception.

Some thoughts on ‘Vision 2025: A Country Enriched’

Wednesday, 20 September 2017

Recently, our Government unveiled a forward plan titled: ‘V2025: A Country Enriched’. It spells out the Government’s economic vision for many relevant areas, including development plans for our human resource.

Is Sri Lanka ready for the 2025 growth agenda?

Tuesday, 19 September 2017

The other day the President and Prime Minister launched the 2025 vision for Sri Lanka which was incidentally the third policy statement of the Government since coming to power in 2015. My view is that the continuous changes to policy is important and

Columnists More