Budget 2022: Annual Warrant for state expenditure to be made Quarterly Warrant

Delivering his inaugural budget speech today, Finance Minister Basil Rajapaksa proposed to make the annual warrant for state expenditure a quarterly warrant.

Minister Rajapaksa commenced the Second Reading of the Appropriation Bill (Budget Speech) for the fiscal year 2022 this afternoon.

This budgetary proposal expects to encourage state institutions to preplan their procurements, salaries, allowances, loans services and maintenance expenditures for establishing financial discipline, the finance minister added.