Harsha labels Budget 2015 a flop as Govt. revises expenditure estimates
Wednesday, 5 November 2014 00:55
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Amendment to Appropriation Bill 2015 comes hot on the heels of Budget presentation
By Ashwin Hemmathagama Our Lobby Correspondent
The Government will soon bring amendments to the Appropriation Bill 2015 by increasing State expenditure from Rs. 1.812 trillion to Rs. 2.168 trillion, followed by an increase in the ceiling set for borrowings from Rs. 1,340 billion to Rs. 1,780 billion.
According to a document made available to Opposition lawmakers in Parliament on Monday, Subsection (2) (1) of Clause 2 and Subsection (2) (b) of Clause 2 of Appropriation Bill 2015 will get amended with immediate effect.
UNP MP and Economic Affairs Spokesman Dr. Harsha de Silva, was adamant Budget 2015 was a “flop” with “massive expenditure and less income” as per the Appropriation Bill, which was moved on 26 September.
He said: “Having presented the Budget almost a week ago, the Government has realised its expenses have gone up by Rs. 256 billion. The Government is also looking at borrowing Rs. 440 billion. How come a serious change is taking place within such a short period of time?”
The Appropriation Bill will provide for the service of the financial year 2015: to authorise the raising of loans in 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 monies, of or at the disposal of the Government, of monies required during that financial year for expenditure on such activities; to provide for the refund of such monies to the Consolidated Fund and to make provision for matters connected therewith or incidental thereto.
