The Appropriation Bill for the year 2021 is scheduled to be tabled in the Parliament in the second week of October.
During the Cabinet meeting held yesterday (September 16), Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance presented the policy framework to be followed in preparing the budget for the year 2021.
As per the proposal the following facts are be prioritized in preparation of the budget for the year 2021:
– Allocation of resources for achieving the expected results by the government’s policy declaration ‘Vistas of Prosperity and Splendor’
– Allocation of required resources for realizing the objectives mentioned in the gazette notification published in relation to entrusting subject areas to the Ministries and the State Ministries.
– Providing drinking water to all, implementation of the programme for renovation and improving of 100,000 kilometers of roads and giving priority to aquatic resources and irrigation sector.
– Allocation of resources required for the state investment programme creating favourable grounds for successful operation of business activities following the cost management methodologies under the prevailing circumstances since the estimation reveals that the state revenue for the 2021- would be approximately to 20 percent of the gross domestic production.
– Provision of assistance required for the digitalization activities of the government
– Drawing attention to the possibilities of redirecting to simple methodologies by reviewing the prevailing methodologies up to date enabling the achievement of more productive results engaging lesser amount of resources.
Subsequently, the proposal made by Finance the Minister, to proceed with the necessary steps to draft the 2021 Appropriation Bill, was approved by the Cabinet.