The cabinet last week approved the 2013 Appropriation Bill with the estimated government expenditure for 2013 of 2.52 trillion rupees (US$ 19.5 billion).

Allocations to the education and higher education sectors have been increased by nearly 14 percent in the budgetary estimates to be presented to the parliament on October 4th.

Funds for Education Ministry has been increased by Rs. 3.43 billion from last year to Rs. 37.9 billion while the Higher Education Ministry has been allocated Rs. 27.9 billion, which is an increase of Rs 4.1 billion from 2012.

Meanwhile, the President, who, in his capacity as the Finance Minister will continue to receive suggestions and proposals from different sectors to prepare the 2013 budget.

He is expected to meet the representatives of the chambers of commerce on Thursday to discuss a wide array of proposals put forward by them to strengthen country's industries and businesses.

The President met with the women entrepreneurs of Sri Lanka's Small and Medium Enterprises sector last Friday in order to solicit their views and proposals for the 2013 budget preparations.