(LANKAPUVATH | COLOMBO) – The Members of Parliament are slated to vote on the third reading of the Appropriation Bill for the fiscal year 2023 this evening (Dec 08) following a 13-day debate.
The debate on the committee stage or the third reading of 2023 Budget commenced on November 23 following the division on the second reading on November 22, which was passed by a majority of 37 votes.
During the vote on the second reading, 121 parliamentarians in total had voted in favour of the budget while 84 MPs from Samagi Jana Balawegaya (SJB), National People’s Power (NPP), Sri Lanka Freedom Party (SLFP), Uttara Sabhagaya led by Wimal Weerawansa and Freedom People’s Congress led by Dullas Alahapperuma voted against it. MP C.V. Wigneswaran had abstained from voting.
President Ranil Wickremesinghe, in his capacity as the Minister of Finance, presented the 2023 Budget to parliament on November 14, aimed at creating long-term stable economic growth.
According to the 2023 budget, 77th budget of the independent Sri Lanka, the total expenditure for 2023 will be Rs. 5,819 billion (19.2%) and the total revenue and grants will be Rs. 3,415 billion (11.3%).
Meanwhile, the budget deficit for the fiscal year 2023 is estimated at Rs. 2,404 billion, which is 7.9 as a percentage.
Through this budget, the government has allocated Rs. 4,609 billion for recurring expenditure such as subsidies and salary payments. For salaries and wages, Rs. 1,002 billion has been set aside, and Rs. 1,114 billion for subsidies and transfers.