Appropriation Bill for 2014 in Parliament today

Tuesday, 22 October 2013 00:46 -     - {{hitsCtrl.values.hits}}

The Government will present the Appropriation Bill for 2014 to Parliament today. President Mahinda Rajapaksa in his capacity as Finance Minister will present the 2014 Budget to parliament on 21 November. The Government plans 2014 expenditure to be at Rs. 2.543 trillion as against Rs. 2.567 trillion revised estimate for 2013. Maximum total borrowing for 2014 has been revised down to 15.6% to Rs. 1.1 trillion as against 2013’s revised estimate of Rs. 1.3 trillion. The debate on the second reading of the Budget will commence the following day and continue till 29 November. The Committee Stage debate of the Appropriation Bill will continue till 20 December, with the final vote scheduled for that day. Members from trade unions, youth organisations, business and professional bodies and the public have presented proposals to the Finance Ministry to be included in the 2014 Budget. According to the Government, the 2014 Budget is looking at bringing down the deficit to 5.2% from 6.5% of Gross Domestic Product.