2024 Budget to be presented to Parliament today

(LANKAPUVATH | COLOMBO) – President Ranil Wickremesinghe is scheduled to present the 2024 Budget to the Parliament today (13), in his capacity as the Minister of Finance.

Accordingly, the Second Reading of Appropriation Bill for the fiscal year 2024, the country’s 78th Budget Speech, is to be delivered by the President at 12 noon on Monday (Nov. 13).

Thereafter, the Second Reading debate of the 2024 Budget will be held for seven days from November 14 to 21, excluding Sundays.

Furthermore, the vote for the Second Reading of the Budget is scheduled to be held on November 21 at 6.00 p.m.

It has been decided to hold the committee stage debate for 19 days from November 22 to December 13, excluding Sundays. Accordingly, the vote on the Third Reading of the budget for the financial year 2024 is scheduled to be held at 6.00 p.m. on 13 December, 2023.

It is reported that the estimated expenditure in this year’s budget is Rs. 7,326 billion and Rs. 5,334 billion have been allocated as recurrent expenditure.

At the same time, Rs. 1,225 billion have been allocated as capital expenditure.

Meanwhile the President engaged in a discussion pertaining to the preparation and delivery of the final stage of the budget at his official residence yesterday morning (12), the PMD reported.

This is the first Budget to be presented by incumbent President Ranil Wickremesinghe following the interim budget presented by him after assuming the office of President.

Economic experts point out that it will be a very challenging task.

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