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* Sri Lanka President prepares 2011 Budget
Sat, Nov 20, 2010, 08:14 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 20, Colombo: Sri Lanka President Mahinda Rajapaksa is his capacity as the Finance Minister teamed up with the Secretary of Finance Ministry Dr. P.B. Jayasundara to prepare the final 2011 budget proposal at Presidentís House this evening.

The Appropriation Bill to be presented in the parliament on Monday will be a development oriented budget that provides relief to the people.

President Rajapaksa who was sworn-in yesterday on his second term in office has pledged to make the country the hub of development in the five-fold areas of naval, aviation, commerce and trade, power and energy, and knowledge t.

The government's 2011 budget is expected to be the first step of a three-year development plan for the country.

The total expenditure for 2011 is estimated to be over 1.08 trillion rupees. Nearly 20 percent of the expenditure is for defence sector which is estimated to be Rs 215.2 billion.

The Sri Lankan government is to present its budget for 2011 in Parliament on November 22nd.

The second reading debate will be held from November 22nd to 27th while the third reading is scheduled to be held from November 29 to December 20.

(Photos by Nalin Hewapathirana)

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