Revenue policies to increase volume of goods and services – Budget 2022

The Budget for the fiscal year 2022 and the first by the new Finance Minister Basil Rajapaksa will be presented in Parliament on Friday, November 12.

Finance Minister Basil Rajapaksa said that he believes he will have an opportunity to present an effective Budget for the country and the people. The Minister was responding to media queries following his visit to Kandy to pay homage to the Sacred Tooth Relic recently.

The Minister also called on the Chief Prelates of the Malwatta and Asgiriya Chapters and briefed them on the forthcoming Budget. Minister Rajapaksa said that he came to seek the blessings of the Sacred Tooth Relic for the Budget to be presented on behalf of the people and hoped that he could present a good Budget.

Secretary to the President Dr. P. B. Jayasundera said that he believes a Budget with a new vision and program that goes beyond the traditional Budget will be presented this time. Dr. Jayasundera told a media briefing via video technology on the theme “Future Budget and the Economic Situation of the Country” recently, Dr. Jayasundera that priority will be given to the fields of green economy, renewable energy, information technology and digital governance and special attention will be given to increase the income of the country working within the National policy framework ‘Vistas of Prosperity and Splendour’.

He said the production of goods and services should be increased to generate revenue for the country.

Therefore, revenue policies that can increase the volume of goods and services will be included in the Budget. The Secretary said that the rural agrarian economy should be uplifted and the development of infrastructure facilities in this regard has been identified as a priority.

The Secretary to the President said that an attractive country should be created for local entrepreneurs, new investors and tourists and in addition to the country’s resources, new investment opportunities would be created for the country through these initiatives.

The Committee on Parliamentary Business chaired by Speaker Mahinda Yapa Abeywardena decided to hold the debate on the Second Reading of the Budget for seven days, from Saturday, November 13 till Monday, November 22 inclusive of Saturdays on each week. Thereafter, the vote on the Second Reading will be held on November 22 at 5.00 p.m.

Subsequently, the debate at the Committee Stage will commence on November 23.

It has been decided to hold the debate for 16 days inclusive of Saturdays until December 10. The vote on the Third Reading will be held on December 10 at 5.00 p.m.

During the Budget Debate, Parliament will convene at 9.30 a.m. and 30 minutes from 9.30 a.m. to 10.00 a.m. will be allocated for five Questions for Oral Answers.

The Second Reading Debate and the Committee Stage Debate will be held from 10.00 a.m. to 5.00 p.m. and lunch will be from 12.30 p.m. – 1.00 p.m.

A Motion at the time of Adjournment will be taken up from 5.00 p.m. to 5.30 p.m. daily except November 22 and December 10 as the vote is scheduled for these two days.

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