The Appropriation Bill for the fiscal year 2023 was presented to the parliament by the Leader of the House, Minister Susil Premajayantha today (Oct. 18).

The parliamentary session commenced at 9.30 a.m. this morning.

The bill provides for the service of the financial year 2023, to authorize the raising of loans in or outside Sri Lanka, for the purpose of such service; to make financial provisions 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 the said financial year for expenditure on such activities; to provide for the refund of such moneys to the Consolidated Fund and to make provisions for related matters. 

Last week, the Cabinet of Ministers granted approval to a proposal tabled by President Ranil Wickremesinghe, in his capacity as the Minister of Finance, Economic Stabilization and National Policies to submit the draft bill to the parliament.

Later, the Committee on Parliamentary Business which met under the chairmanship of Speaker of Parliament Mahinda Yapa Abeywardana decided to schedule the first reading of the draft bill today.

On August 22, the Cabinet of Ministers have the approval was given to prepare the draft of the Appropriation Bill for the fiscal year 2023.

According to the government, the total Recurrent Expenditure for 2023 has been estimated to the tune of Rs. 4,634 billion while total Capital Expenditure has been estimated at Rs. 3,245 billion.