Thursday Dec 12, 2024
Thursday Dec 12, 2024
Friday, 8 October 2021 00:29 - - {{hitsCtrl.values.hits}}
Finance Minister Basil Rajapaksa presenting the 2022 Appropriation Bill in Parliament yesterday
The Budget for 2022 and the first by new Finance Minister Basil Rajapaksa will be presented to Parliament on 12 November.
Parliament officials said the presentation would be in the afternoon of 12 November with the debate on the Second Reading from Saturday 13 November to Monday November 22, inclusive of Saturdays, falling on each week. Thereafter, the Vote for the Second Reading will be held on Monday 22 November at 5.00 pm. The Debate at the Committee Stage will commence on Tuesday 23 November and will go on for 16 days, inclusive of Saturdays, up until Friday 10 December.
Thereafter, the Vote for the Third Reading will be held on 10 December at 5.00 p.m.
During the Budget Debate, Parliament will convene at 9.30 a.m. and will have 30 minutes from 9.30 am to 10.00 am for five questions for oral answers. The Second Reading Debate and the Committee Stage Debate will be held from 10.00 a.m. to 5.00 p.m. and will be suspended from 12.30 p.m. to 1.00 p.m. for the lunch break.
The dates for the month-long debate on the Appropriation Bill were finalised at a party leaders meeting held yesterday.
Earlier in the day, Minister Rajapaksa presented the Appropriation Bill-2022 to Parliament.
The Bill provides for the service of the financial year 2022.
According to the Bill, Government expenditure for 2022 is estimated at Rs. 2.5 trillion, with the limit of borrowing set at Rs. 3.18 trillion.
The Bill authorises the raising of loans in or outside Sri Lanka for such service, makes financial provision in respect of certain activities of the Government during that financial year and enables the payment by way of advances out of the Consolidated Fund or any other fund or moneys, of or at the disposal of the Government, required during that financial year for expenditure on such activities.
Overall, as much as 50% of Ministries have seen their allocations reduce as per the Appropriation Bill. The Defence Ministry has the largest allocation, increasing 5% from Rs. 355 billion to Rs. 373 billion. The Finance Ministry has also been allocated a staggering Rs. 28 billion more than the previous year.
Ministries that are key for the economy have also seen their allocations reduced with tourism seeing an unusual 50% reduction from Rs. 1.85 billion in 2021 to Rs. 923 million. The Trade Ministry has seen a drop of 21% from Rs. 5.6 billion to Rs. 4.4 billion. The Plantation Ministry has reduced from Rs. 3.5 billion to Rs. 1.2 billion. Agriculture Ministry has seen its allocation remain largely unchanged from Rs. 24 billion to Rs. 24.4 billion. Education Ministry has also seen a small increase from Rs. 102 billion to Rs.105 billion, which will likely be utilised to meet teacher salary anomalies in 2022.
