Sri Lanka Budget Speech 2024 – Highlights

President and Finance Minister Ranil Wickremesinghe is delivering the Second Reading of the Appropriation Bill for the financial year 2024 in Parliament.

Sri Lanka Budget 2024: LIVE VIDEO

To enhance government employee pay, the state's revenue must be increased, emphasizes President
Inefficiencies in the public sector must be eliminated.

President Ranil Wickremesinghe highlights need to meet state revenue needs amounting to Rs. 3,415 billion.

Tax revenue increase by 50 percent this year

President Wickremesinghe stresses the need to minimize state sector expenditure, especially with State-Owned Enterprises
Rs. 10,000/= increase from April 2024 for State sector employees
Rs. 2,500 allowance increase for pensioners monthly form April 2024

Senior citizens' allowances increased to Rs. 3,000

Rs. 205 billion allocated for benefit programs targeting disabled individuals, CKDU patients, and senior citizens ...

Rs. 50 billion allocated to assist SMEs through a loan scheme introduced by the ADB
Estate workers to get freehold land

Rs. 10 billion allocated to facilitate the development of abandoned estates and lands

Rs. 600 million allocated to the 'Bim Saviya' programme
4 new Universities to be established soon

*Seethawaka Science and Technology University
*Kurunegala Technology University under the Kotalawala Defence University 
*Management and Technology University
*International Climate Change University
Rs 2 billion allocated for new bridge construction

Govt to appointed a 25-member committee to recommend proposals for reforms for the education system

University of Sri Jayawardenapura - Rs. 40 million to develop laboratories and related facilities

Peradeniya University - Rs. 500 million for development

Private institutes: SLIIT, Horizon Campus, Royal Institute and
NSBM will be elevated to universities

'Suraksha' student insurance scheme to be reintroduced 
Medical tourism: 100-million-rupee allocation
Fisheries and Agriculture: Rs. 2,500 million allocated for development
North and East resettlement: 2000 million allocations
Development of rural roads: 2 billion rupees allocated
Rs. 400 million allocated for the establishment of the University of Maha Vihara
Rs. 30 million allocated for the the establishment of the Buddhist Research Library in Anuradhapura
Rs. 55 billion allocated to completing projects temporarily halted due to the economic crisis
Provincial and school cricket: Rs.1.5 billion allocation
Central expressway construction to recommence following debt restructuring completion. Kadawatha to Meerigama with China and Kurunegala to Galagedara with Janpan.

New investment zones: Hambantota, Jaffna, Trincomalee, Bingiriya and Kandy
Rs. 3 billion allocated to establish a National Center for Artificial Intelligence
Provincial Tourism Boards: Rs.750 million allocated
One billion ruppees allocated for new law adoption in the tourism sector
20% of the shares of the two large state owned banks will be given to strategic investors or the public
The President concluded the debate by requesting all the parties of this House to join the work order to rebuild the country.
"If there is a better program than ours, present it to this House in detail. Let's discuss. Let's implement the most suitable program."
Parliament adjourned. The debate of the second reading of the Appropriation Bill will commence on Tuesday  morning

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