UPFA 2006 budget with 23% increase in defence expenditure

[TamilNet, Wednesday, 05 October 2005, 04:29 GMT]
Sri Lanka's Finance Minister Dr.Sarath Amunugama Tuesday tabled the Appropriations Bill for the next year budget of the United People's Freedom Alliance (UPFA), which has made provision for the allocation of 69 billion Rupees for defence expenditure. This is an increase of 13 billion rupees (23.2 percent) compared to defence allocation for 2005.

The significant increase in the next year defence expenditure is the high light of the UPFA budget which is to be tabled in parliament on 8 November, nine days ahead of the presidential poll fixed for November 17.

Of the 69 billion rupees, about 61 billion rupees are allocated for the recurrent expenditure and 8.4 billion as capital expenditure.

The Provincial Councils and Local Government has been allocated 88 billion rupees (54 % increase from the current year allocation of 57 billion rupees).

The total projected expenditure for the year 2006 budget exceeds 586 billion rupees.

The sectors of health, education, highways and public administration have been allocated Rs: 36 billion, Rs: 33 billion, Rs: 36 billion and Rs: 43 billion respectively.

Agriculture Ministry will receive 11 billion rupees; Power and Energy Ministry will receive 10 billion rupees and Fisheries Ministry 4 billion rupees.

12 billion rupees have been allocated for the Ministry of Relief, Rehabilitation and Reconciliation and 5 billion rupees have been set-aside for the Ministry of Social Welfare.

 

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