86% of 2023 Budget proposals implemented: Siyambalapitiya

Friday, 24 November 2023 00:22 - - {{hitsCtrl.values.hits}}

State Minister of Finance Ranjith Siyambalapitiya

State Minister of Finance Ranjith Siyambalapitiya announced yesterday that a substantial 86% of the 2023 Budget proposals has been either completed or is in the process of implementation, while acknowledging that 17% proposals are yet to be implemented.

Speaking in Parliament yesterday he highlighted that certain proposals are part of medium and long-term plans, extending their execution over multiple years.

Responding to a query raised by the Opposition Leader under Standing Order 27 (2) Siyambalapitiya provided insights into the 2023 Budget’s progress.

“The 2023 Budget comprised a total of 120 proposals, categorised into 29 revenue proposals, 30 expenditure proposals, and 61 policy proposals. Of these, 24 revenue proposals and 17 policy proposals have been successfully implemented thus far. As of now, 62 proposals are in various stages of initiation and implementation. This includes five revenue proposals, 27 expenditure proposals and 30 policy proposals, contributing to the substantial 86% completion rate,” he explained.

The State Minister emphasised the diverse nature of these proposals, ranging from revenue-generating measures to policy adjustments.

Noting that 17% of the proposals are yet to be implemented, he assured that relevant ministries would be scrutinised to identify the reasons for the delay.

Siyambalapitiya noted that challenges such as legal issues, technical deficiencies and human resource shortages could contribute to the delay in executing the outstanding proposals.

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