The Appropriation Bill for the 2024 fiscal year was presented in parliament today by President Ranil Wickremesinghe in his capacity as Finance Minister.
Before starting the budget, the president gave a brefing on the ‘Prelude to a Stable Future’.
“We can certainly create a more favourable economic environment in the near future if we gradually move forward in this difficult terrain. When we look back at the past year, it is 100 percent confirmed that we are on the right track,” the president said.
“As we progressed along this path, there were certain mistakes. We have acknowledged this. We will humbly rectify those deficiencies and mistakes,’ he added.
At the beginning of the budget, the salary increment for the government sector was mentioned as the key proposal. He mentioned that the revenue of the government has to be increased to increase salaries.
He mentioned the restructuring of the Ceylon Electricity Board (CEB) and said some political groups are against this process.
During the budget speech, the pensioners were given an increase in their allowance of Rs. 2,500 from April 2024. The ‘Aswesuma’ welfare benefit scheme was provided to over 4 million citizens; senior citizens’ allowances were increased to Rs. 3,000, while Rs. 10 billion has been allocated for the development of rural roads and Rs. 2 billion to renovate bridges and roads damaged due to the adverse weather.
The ‘Suraksha’ students’ insurance scheme is also to be reintroduced.
“The government has extensively reviewed the current drug procurement process,” President Wickremesinghe said, adding that Rs. 75 million has been allocated to review the current drug procurement process, facilitate and enhance it. Dairy farmers were encouraged to further enhance production, while Rs. 1.5 billion was allocated to develop facilities for provincial and school cricket, etc.
Finally, the President requested all in Parliament to join in the work in order to rebuild the country. He also requested that, if there is a better programme than the proposed proposals, then to present them instead.
“Let’s implement the most suitable programme. Let’s inherit a proud title for our future generations,” he concluded.
