2021 Draft Appropriation Bill in October; Cabinet approves Finance Minister's proposal

by Zulfick Farzan 17-09-2020 | 4:23 PM

Colombo (News 1st); The Cabinet of Ministers announced the draft appropriation bill for the year 2021 is scheduled to be tabled in Parliament during the second week of October 2020.

The Prime Minister as the Minister of Finance tabled the policy framework to the Cabinet of Ministers to be followed in the preparation of the budget for the year 2021 prioritizing multiple facts.

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 the irrigation sector.
Allocation of resources required for the state investment programme creating favourable grounds for the successful operation of business activities following the cost management methodologies under the prevailing circumstances since the estimation reveals that the state revenue for the2021- would be approximately t0.20/o.of the gross domestic product.
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.

The Cabinet of Ministers approved the proposal submitted by the Prime Minister as the Minister of Finance for taking necessary actions to draft the appropriation bill of the year 202.