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If appropriation bill is any indication, budget not cheery
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This will be Finance Minister Basil Rajapaka's maiden budget
The Government’s Budget 2022, the first Budget of new Finance Minister Basil Rajapaksa, will be presented to Parliament on Friday, November 12. The Committee on Parliamentary Business, this week, decided to hold the Budget 2022 Debate from November 12 to December 10.
Mr Rajapaksa presented the Government’s Appropriation Bill 2022 to Parliament on Wednesday. According to the Bill, Government expenditure for 2022 is estimated at Rs. 2505.3 billion (Rs. 2.5 trillion) inclusive of both recurrent and capital expenditure, with the limit of borrowing set at Rs. 3184 billion (Rs. 3.18 trillion).
At a time when allocations for many sectors have been slashed by a cash-strapped Government, the Defence Ministry will still see the largest allocation of Rs. 373 billion for 2022, which is a Rs. 18 billion increase from the previous year. The State Ministry of Provincial Councils and Local Government has been allocated Rs. 329 billion. The Ministry of Public Services, Provincial Councils and Local Government will receive Rs. 286.7 billion.
The Ministry of Highways has been allocated Rs. 250 billion while the Education Ministry will receive Rs. 127.6 billion, which is a marginal increase from Rs. 126.5 billion received through the last Budget. The Health Ministry has seen its allocation decrease by about Rs. 6 billion compared to the previous year, to Rs. 153.5 billion.
The President’s expenditure has decreased by about Rs. 6.6 billion from the previous year to Rs. 2.78 billion. One of the most striking increases seen in the Appropriation Bill 2022 is that the allocation of the Finance Ministry has risen by Rs. 28 billion as compared to the previous year. Accordingly, the Finance Ministry has been allocated Rs. 185.9 billion in this year’s Appropriation Bill.
The Debate on the Second Reading of Budget 2022 will be held for seven days starting from Saturday, November 13, to Monday, November 22, inclusive of Saturdays falling on each week. The Vote for the Second Reading will be held on Monday, November 22, at 5 pm.
The Debate at the Committee Stage will commence on Tuesday, November 23. This debate will continue for 16 days inclusive of Saturdays up until Friday, December 10. The Vote for the Third Reading will be on December 10, at 5 pm.
