Oct 22, Colombo: The Sri Lankan government today presented the Appropriation Bill for the 2014 Budget in parliament.
The government has estimated an allocation of Rs. 2.54 trillion for expenditure, which is marginally lower than the 2013 allocation of Rs. 2.56 trillion.
The Appropriation Bill has also set a borrowing limit of Rs. 1.10 trillion for 2014, which is a decline of 15 percent from 2013.
As for the key fund allocations to ministries for 2014, Defense and Urban Development Ministry will get Rs. 253 billion, the highest ever allocation for the Ministry, which also oversees the massive development projects in urban areas in addition to maintaining the country's defense forces.
Another Rs. 144 billion has been allocated for the Ports and Highways Ministry.
President Mahinda Rajapaksa in his capacity as Finance Minister will present the 2014 Budget to parliament on November 21.