Jan 07, Colombo: The Ministry of Finance and Mass Media stated that the 2019 budget Appropriation Bill will be submitted to the cabinet of ministers today.
The cabinet meeting presided by President Maithripala Sirisena will be held at the Presidential Secretariat at 9:30 this morning.
Although Finance Minister Mangala Samaraweera presented budget proposals to the last cabinet meeting held it was decided to submit the Appropriation Bill to the cabinet on Monday, 7th January.
The Appropriation Bill will be presented to Parliament on the 5th of February. The Finance Minister will present the 2019 budget in parliament on March 5. The third reading of the budget will commence on the 13th of March and the final vote will take place on April 4th.
The Finance Ministry says this year's budget is based on the performance. One of the main objectives of the 2019 budget is to increase government revenue to 17% of GDP.
According to the Ministry, budget allocations for the expenditure of the ministries will be based on the respective ministry's action plan for projects and programs to be implemented in the year.