LNP – Budget 2022 to be presented in parliament today

The Second Reading of the Appropriation Bill for the fiscal year 2022 will be tabled in Parliament this afternoon (November 12) by Minister of Finance Basil Rajapaksa.

The budget speech is scheduled to commence at 02.00 p.m. This is the 76th budget of an independent Sri Lanka. It is also the second budget of the incumbent government and the first presented by Finance Minister Basil Rajapaksa.

The 2022 Appropriation Bill was introduced in Parliament by the Minister of Finance on October 07.

This Appropriation Bill was published in the Gazette on September 29, 2021 for matters relating to obtaining service expenses for the financial year 2022 from the Consolidated Fund or any other suitable fund with provisions and obtaining loans within or outside Sri Lanka.

Accordingly, for service expenses during the period from January 01, 2022 to December 31, 2022, approval is to be secured for recurrent and capital expenditure related to Government Expenditure amounting to rupees two thousand five hundred and five billion three hundred and forty-six million five hundred and fifty-eight thousand.

Chapter xvii of the Constitution gives Parliament full control over public finances and requires the approval of Parliament on matters including taxation, consolidation of funds or any other appropriate fund with provisions.

The second reading debate of the budget will be held for seven days from Saturday (November 13) to Monday (November 22). The vote on the second reading of the budget will take place at 5.00 p.m. on Monday.

The Committee Stage Debate will commence on Tuesday (November 23) and will continue for 16 days, including Saturday, until Friday (December 10). The third reading vote will be held on December 10th at 5.00 pm.

Arrangements have been made to present this year’s budget debate in sign language on behalf of the hearing-impaired community. Accordingly, a Sign Language Window will be telecast simultaneously with the live telecast during the budget debate.

Further, arrangements have been made to hold sittings in Parliament in accordance with all health guidelines and regulations during the entire period of the budget debate starting from today, the presenting of the budget statement to Parliament.

The Public Gallery will not be open to the public during the budget debate and only a limited number of government officials will be allowed to attend the Budget Committee session.

The Gallery for Special Guest and Invited Foreign Diplomatic Ambassadors and High Commissioners will be opened today.

The budget being presented today is the second budget of the Government of President Gotabaya Rajapaksa, the seventh Executive President of the Democratic Socialist Republic of Sri Lanka.

Following the budget speech, the Minister of Finance will host the traditional tea party. However, it will be limited to MPs, ministers, foreign ambassadors and invitees.