Finance Minister to present 2018 Budget Speech today
November 9, 2017 09:36 am
The second reading of the Appropriation Bill for 2018 will commence today (9), where Minister of Finance and Media Mangala Samaraweera will present the Budget speech for 2018 to parliament.
The reading of the Budget for 2018 will commence at 3.00pm today (09).
Six days have been allotted for the Second Reading Debate from November 10th to 15th followed by the Second Reading Division on November 16th evening.
Eighteen days have been allotted for the Committee Stage Debate which will take place from November 17th to December 08th followed by the Third Reading Division on December 09th evening.
The Appropriation Bill for 2018 was presented to parliament by State Minister of Finance Eran Wickremaratne on October 9.
The Appropriation Bill submitted to the cabinet by Minister of Finance and Media Mangala Samaraweera had an expected expenditure of Rs.3983 billion for 2018. Expected government income was reportedly Rs.2174 billion according to the Bill.
The Ministry of Finance stated that the Budget for the year 2018 will be drafted in a way that promotes economic growth and social welfare in a sustainable framework that will aid the progressive growth of the country.
The Bill is to provide for the service of the financial year 2018; to authorize the raising of loans in or outside Sri Lanka, for the purpose of such service; to make financial provision in respect of certain activities of the Government during that financial year; to enable 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, of moneys required during that financial year for expenditure on such activities; to provide for the refund of such moneys to the Consolidated Fund and to make provision for matters connected therewith or incidental thereto.
Following the presentation of the Budget today (9), the second reading of the Appropriation Bill will debated on till November 16 following which the second reading will be voted on.
The third reading of the Appropriation Bill will be submitted on November 17 after which it will be debated on till December 9.
Accordingly the 2018 Budget will be voted on during parliamentary proceedings on December 9.
