(COLOMBO, LANKAPUVATH) –The Cabinet of Ministers has granted approval to present the draft appropriation bill for the year 2021 to be tabled in Parliament during the second week of October 2020.
The Prime Minister in his capacity as the Minister of Finance has presented to the Cabinet the Policy Framework to be followed in preparing the Budget for the year 2021, giving priority to the following matters.
* Allocation of resources for achieving the expected results by the government’s policy declaration ‘Vistas of Prosperity and Splendor’
* Allocation of resources required to achieve the relevant objectives as stated in the Gazette Notification issued in connection with the assignment of subjects to the Ministries and State Ministries;
* Providing drinking water to all, Implementing the 100,000 km road rehabilitation and improvement program covering the whole island, giving priority to the areas of aquatic resources and irrigation;
* Allocation of resources required for the state investment program creating conducive grounds for the successful operation of business activities following the cost management methodologies under the prevailing circumstances since the estimation reveals that the state revenue for the 2021- would be approximately 10.2 percent of the gross domestic product;
* Providing necessary assistance to digitalize government affairs;
* Focus on reviewing existing methods and moving to simpler methods so that more effective results can be achieved by using less resources;.
Accordingly, the Appropriation Bill 2021 is scheduled to be tabled in Parliament in the second week of October 2020.
Based on the above policy, the Cabinet approved the proposal made by the Prime Minister in his capacity as the Minister of Finance to take necessary steps to draft the Appropriation Act 2021.