Budget 2024 on November 13

Cabinet of ministers this week approved the draft Appropriation Bill for 2024, and President Ranil Wickremesinghe, who is also the Finance, Economic Stabilisation and National Policies Minister will deliver the budget on November 13.

The Department of Government Information yesterday said Finance, Economic Stabilisation and National Policies Minister’s proposal to gazette the bill and table it in parliament was approved by the Cabinet 
of Ministers.

The bill prepared by the Legal Draftsman has received the clearance from the Attorney General. Presenting the Appropriation Bill is the first stage of presenting a budget  for the year 2024. It sets out the expenditure plans for each ministry.

State Finance Minister Ranjith Siyambalapitiya said the Appropriation Bill will be presented to parliament in the second week of October.

The reading of the budget proposals, which is scheduled to take place on November 13, is called the second reading of the Appropriation Act.  Siyambalapitiya said the debate on the second reading of the budget will be held from November 14 to 21 and the voting on the second reading is scheduled to be held in the afternoon of the 21st. 

The vote on the third reading is scheduled to be held on December 13. After the adoption of the budget, it is to be passed into law by December 27 with the Speaker’s approval, and after December 31, the allocation of funds for government expenses will be made through the new budget, the State Minister said.

Siyambalapitiya said the government has paid more attention to health, education and welfare expenditure in this year’s budget. He noted that the welfare expenditure which was about Rs. 65 billion this year has increased to about Rs.185 billion.