The Appropriation Bill for the year 2023, which is the most challenging budget since independence, will be presented to the Parliament on 14th November 2022, State Minister of Finance Ranjith Siyambalapitiya said on Monday (31).
Speaking to the media today, he said that the government and the President have focused on preparing a budget that lessens the burden on the people while protecting economic independence.
The total expenditure of the Government for the year 2023 has been estimated as Rs. 7885 billion, an increase of Rs. 1785 billion from the total expense of Rs. 6100 billion that was allocated in the 2022 Budget, he said.
The State Minister further said Rs. 432 billion has been allocated to the Health Sector, Rs. 504 billion for Education, and Rs. 367 for Defence.
The highest allocation of Rs. 572 billion has been made for social security for 04 to 6.9 million families that have sought government relief.
State Minister Ranjith Siyambalapitiya said that the government expects to improve the state income to grow to 13% compared to the 8.5% it is at present.
He added that it was essential to increase the government’s income by 65%, of which 90% is expected to be obtained via taxes. (NewsWire)
