Written by Staff Writer
24 Oct, 2014 | 1:44 pm
President Mahinda Rajapaksa has arrived at the Parliament to present the 2015 budget at 1:30 p.m.Friday afternoon.
Speaking to News1st earlier on Friday, Deputy Speaker Chandima Weerakkody noted that the President would address Parliament in his capacity as the Minister of Finance and Planning, in the usual manner, after the session commences.
This will be the tenth budget presented in parliament by the United People’s Freedom Alliance government and it is also incidentally the 69th budget of Independent Sri Lanka.
The first step of the budget’s passage through Parliament, also known as the first reading of the budget, is the presenting of the Appropriations Bill for the coming year.
The second step is the Budget Speech by the Minister of Finance, also known as the second reading of the budget.
The President in his capacity as the Minister of Finance, will present a detailed outline of the Government’s expected expenditure and how this expenditure will be financed, to parliament.
This is an important occasion on which the Finance Minister explains the government’s economic program and announces any proposed policy changes.
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