brand logo

Basil okays Ranil, Maithri ‘supplementary estimate’ proposal

24 Mar 2022

  • Former Prez and former PM propose shelving 2022 Budget
  • Sirisena calls for passing said estimate before May
  • Basil willing if Cabinet agrees
BY Buddhika Samaraweera Following Government Parliamentarian Maithripala Sirisena and Opposition MP Ranil Wickremesinghe requesting the Government to shelve the Budget operative for 2022 and the duo submitting a supplementary estimate containing only the essential expenditure, Finance Minister Basil Rajapaksa stated that he is prepared to submit such a supplementary estimate, subject to the consensus of the Cabinet of Ministers. Speaking during the all-party conference chaired by President Gotabaya Rajapaksa yesterday (23), former Prime Minister Wickremesinghe said that a supplementary estimate, which includes only the essential expenditure, should be tabled in Parliament, considering the current economic crisis in the country. “If we need to overcome this crisis situation, only the essential expenditure should be identified, and all other expenditure should be omitted. In particular, the present development-based Budget should be replaced by a supplementary estimate, through which it is possible to provide relief to the people affected by the current crisis,” he claimed. Meanwhile, speaking at the same conference, former President Sirisena also said that a supplementary estimate should be submitted for the remainder of this year. He added that it is very important to cut down on all unnecessary expenses through it. Emphasising that the said supplementary estimate should be prepared as soon as possible, he stressed that it should be passed in Parliament before May. In response to the said proposal put forward by Wickremesinghe and Sirisena, Basil Rajapaksa said that he, as the Finance Minister, would agree to submit such a new supplementary estimate. “If the Cabinet also agrees to this, there won’t be an issue in submitting one. I, as the Finance Minister, would also agree to it and this will be considered in the future,” he added. The Appropriation Bill for 2022, presented in October last year, noted that the total expenditure of the Government allocated for the year 2022, including for both recurrent and capital expenditure, was decreased by Rs. 33 billion, in comparison to the 2021 fiscal year. Thus, the total expenditure for 2022 is estimated at Rs. 2,505.3 billion (Rs. 2.5 trillion). The Defence Ministry was allocated Rs. 373.1 billion for the year 2022, a Rs. 18 billion increase from the fiscal year 2021, making it the highest-allocated sector. Following the Defence Ministry, the Public Services, Provincial Councils (PCs), and Local Government (LG) Ministry was allocated the second-highest expenditure of Rs. 286.7 billion. The Highways Ministry was allocated Rs. 250.1 billion, while the Education Ministry was allocated Rs. 185.9 billion for the year 2022, which is a Rs. 28 billion increase from the figure of fiscal year 2021, but still below the amount allocated to the Highways Ministry, which was the case in 2020 as well.


More News..