Cabinet Spokesman Keheliya Rambukwella said that the Cabinet of Ministers today approved the budget for the fiscal year of 2021.

“Today is a special day as the new government’s maiden budget will be presented today,” the minister said, adding that Prime Minister Mahinda Rajapaksa in his capacity as Finance Minister presented a summary of the budget to the special Cabinet meeting this morning.

Following a small discussion, the Cabinet decided to unanimously approve the bill presented, he said.

The Cabinet Spokesman said that the budget is expected to be presented to the parliament at around 1.30 p.m. today.  

After presenting it in parliament, the Prime Minister will make the budget speech and it will be considered as the 75th budget report of the country.

The Appropriation Bill will seek the allocation of Rs. 2,678 billion for the service expenditure and according to the Bill, limit on borrowings for the financial year 2021 has been set at Rs. 2,900 billion.

The second reading debate of the budget will be held from the 18th to the 21st of November, following the presentation of the budget speech by the Prime Minister.

The vote on the second reading will take place on November 21st at 5.00 pm. Parliament sittings will be held from the 18th to the 20th from 9.30 am to 5.30 pm.

The debate of the Committee Stage will commence on the 23rd of November and is scheduled to conclude on 10th of December. Accordingly, the vote will be held at 5.00 pm on the 10th of December.