Weekend FT
Saturday 27th September 2014
By Ashwin Hemmathagama
Seeking Parliamentary approval to allocate Rs. 1.812 trillion to support the state expenses for 2015, the Government yesterday tabled the Appropriation Bill, estimating an increase of 17.7% in both recurrent and capital expenditure, compared with Rs. 1.54 trillion appropriated for 2014.
The Appropriation Bill 2015 will allow the Government to borrow Rs. 1.34 trillion to shoulder the increased expenses and to control a widening budget deficit compared to Rs. 1.1 trillion set in the Appropriation Bill for 2014.
Among the top recipients in the Appropriation Bill 2015 the Ministry of Defence and Urban Development which will receive a whopping Rs.285 billion, the highest provisioning. Last year it was allocated Rs. 253 billion.
The Appropriation Bill will provide for the service of the financial year 2015; to authorise the raising of loans inside or outside Sri Lanka, for the purpose of such service; to make financial provision in respect of certain activities of the Government during that financial year; to enable the payment by way of advances out of the Consolidated Fund or any other fund or moneys, of or at the disposal of the Government, of moneys required during that financial year for expenditure on such activities; to provide for the refund of such moneys to the Consolidated Fund and to make provision for matters connected therewith or incidental thereto.
From: Weekend FT. Saturday 27th September 2014. Front page
