President Mahinda Rajapaksa in his capacity as the Minister of Finance and Planning will present the 2015 budget to parliament today (October 24) for its first reading.
The President and the Secretary to the Ministry of Finance Dr. P.B. Jayasundara reviewed the budget proposals at the Temple Trees on Wednesday.
The 2015 budget proposals have been formulated targeting the next five-year period from 2015 to 2017.
The next year budget, which is focused on accelerating the development, is expected to provide a wide array of concessions.
The government has estimated 1.812 trillion rupees (approximately US$ 14 billion) as expenditure for its services for the financial year of 2015.
The Appropriation Bill 2015 targets a budget deficit of 4.4 percent of gross domestic product (GDP) for the next year while expecting a growth rate of 8.2 percent.
The debate on the Second Reading stage of the budget will commence on October 25 and continue till November 01. The vote on Second Reading stage would be taken on November 01.
The committee stage debate on budget 2015 is scheduled to commence on November 03 and will continue daily except for Sundays till November 24. The final vote of the budget 2015 is scheduled to be taken on November 24.