Cabinet approval for 2022 Budget proposal

The Budget proposal for the financial year 2022 has received the approval of the Cabinet of Ministers.

Approval was granted during a special Cabinet meeting which was held this morning (12) chaired by President Gotabaya Rajapaksa.
  
The special cabinet meeting was held to obtain approval for the 2022 Budget proposal before it is presented to the Parliament of Sri Lanka.

The 2022 Budget will be tabled in the House by the Minister of Finance Basil Rajapaksa at 2.00 p.m. today followed the budget speech. 

This is the 76th budget of an independent Sri Lanka. It is also the second budget of the incumbent government and the first presented by Finance Minister Basil Rajapaksa.

The 2022 Appropriation Bill was introduced in Parliament by the Minister of Finance on October 07.

This Appropriation Bill was published in the Gazette on September 29, 2021 for matters relating to obtaining service expenses for the financial year 2022 from the Consolidated Fund or any other suitable fund with provisions and obtaining loans within or outside Sri Lanka.

Accordingly, for service expenses during the period from January 01, 2022 to December 31, 2022, approval is to be secured for recurrent and capital expenditure related to Government Expenditure amounting to rupees two thousand five hundred and five billion three hundred and forty-six million five hundred and fifty-eight thousand.

Chapter xvii of the Constitution gives Parliament full control over public finances and requires the approval of Parliament on matters including taxation, consolidation of funds or any other appropriate fund with provisions.

The second reading debate of the budget will be held for seven days from Saturday (November 13) to Monday (November 22). The vote on the second reading of the budget will take place at 5.00 p.m. on Monday.

The Committee Stage Debate will commence on Tuesday (November 23) and will continue for 16 days, including Saturday, until Friday (December 10). The third reading vote will be held on December 10th at 5.00 pm.

Arrangements have been made to present this year’s budget debate in sign language on behalf of the hearing-impaired community. Accordingly, a Sign Language Window will be telecast simultaneously with the live telecast during the budget debate.

The Second Reading of the Appropriation Bill (Budget Speech) for the Fiscal Year 2022 presented by the Minister of Finance, Basil Rajapaksa will be telecast live on TV Derana and Ada Derana 24 from 2.00 pm today.

Accordingly, you can also watch the budget speech live via the official Facebook page and the YouTube channel of Ada Derana.