Appropriation
Bill for 10th October.
Thursday,
27 September 2007
State
Expenditure for 2008 Rs.1516.3 Billion Ranjith
Siyambalapitiya, Minister of State Revenue and Finance said that
the expenditure for 2008 could amount to Rs.1516.3 Billion. He
stated this at a news conference held today (27) at the Treasury.
He
added that this year’s expenditure rose over 15% from that
of 2007.
The
recurrent expenditure for 2008 would be Rs.725 billion. Government
hopes to cover this expenditure totally by state funds. Due to
the increasing salaries in the state sector, pensions and employment
of about 100,000 recently recurrent expenditure has increased
by 17%.
Capital
expenditure for 2008 would amount to Rs.790 billion. This shows
an increase over 14% from last year. This is due to an increase
in national development efforts and rural infrastructure development.
Another
change is the increasing subsidy for fertilizer and Samurdhi grants
over 2007.
Already
the Government has approved of a Rs.591.3 billion vote for expenditure
for 2008 and parliament has to approve for a further sum of Rs.925
billion added the Minister.
Another
note-worthy change is the additional allocations made for unpredictable
expenses. For example rising cost in fuel and natural disasters.
The annual appropriation bill will be presented in parliament
on 10th October and how the deficit of the budget would be bridged
would be presented to parliament on 7th November.
Following
a discussion on each Ministry’s vote the budget proper could
be put to the voting on December 14 December 14.
Courtesy - Government Information |
