Rs.1349bn needed to bridge govt’s budget deficit – revelation made in Parliament

Rs.1349bn needed to bridge govt’s budget deficit – revelation made in Parliament

Rs.1349bn needed to bridge govt’s budget deficit – revelation made in Parliament

Written by Tharushan Fernando

23 Oct, 2015 | 8:43 pm

It was revealed today that a Rs.1349 billion credit limit would be needed to bridge the government’s budget deficit for the year 2016.

This revelation was made on Friday, when the the first reading of the Appropriation Bill for the 2016 budget was tabled in Parliament .

The Appropriation Bill contains the provisions needed for public expenditure in the year 2016, and also contains a number of details including whether the public expenditure could be funded internally, or externally.

According to the 2016 Appropriation Bill which was presented by Leader of the House, Minister Lakshman Kiriella, the total state expenditure for next year is estimated at Rs.1941.45 billion.

The second reading, also known as the Budget Speech, which is compiled based on the Appropriation Bill, and which provides a detailed description of state proposals to generate government revenue, will be read on November 20.

 

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