Appropriation Bill 2014 debuts in Parliament

Wednesday, 23 October 2013 00:00 - - {{hitsCtrl.values.hits}}

Govt to borrow up to Rs. 1.1 trillion to meet expenses and bridge deficit
Defence, UDA gets top billing again

By Ashwin Hemmathagama – Our Lobby Correspondent Seeking Parliamentary approval to allocate Rs.1.54 trillion to support the state expenses for next year, the Government yesterday tabled the Appropriation Bill 2014, estimating an increase of 15.5% in both recurrent and capital expenditure, compared with Rs. 1.15 trillion appropriated for 2013.

The Appropriation Bill 2014 will allow the Government to borrow Rs. 1.1 trillion to shoulder the increased expenses and to control a widening budget deficit compared to Rs. 1.3 trillion set in the Appropriation Bill for 2013. Among the top recipients in the Appropriation Bill 2014 the Ministry of Defence and Urban Development which will receive a whopping Rs. 253 billion, the highest provisioning. The Appropriation Bill will provide for the service of the financial year 2014; 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 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.