2018 Budget Debate agenda approved by cabinet

The expected schedule for the Budget Debate for the 2018 financial year that was presented by Prime Minister Ranil Wickramasinghe was approved by the cabinet of Ministers yesterday (12). 

Accordingly, the Budget speech for the 2018 fiscal year will be held on November 09. Further the debates on the second reading of the proposed Budget will be held on the 10th, 11th, 13th, 14th and 15th of November 2017.

It was also decided that the Committee stage debate will be held from November 16. The voting on the third reading of the budget is scheduled for December 9, 2017. The proposed agenda was accepted by the cabinet and is listed to be conducted accordingly. 

It was also announced that the Appropriation Bill for 2018 presented by Minister of Finance and Media Mangala Samaraweera was also approved by the cabinet of Ministers. Accordingly the Bill is to be tabled in parliament by the end of this month. 

Reportedly, the Appropriation Bill states that the government estimates a total government expenditure of Rs. 3,982 billion for the year 2018. Further a Recurrent expenditure of Rs. 1308.9 billion and capital expenditure of Rs. 668 billion was proposed by the Minister of Finance. 

The Appropriation Bill also included a total income on foreign grants of Rs. 2175 billion illustrating a large influx of potential income in 2018. It was also included that an amount of Rs. 1,813 billion has been estimated as loans that are to be obtained from foreign sources.