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Featured Insight
Government introduces new expenditure and relief through supplementary budget
On 05 December 2024, the government presented supplementary estimates totalling LKR 219.4 billion for the year, which was not included in the original 2024 budget. Supplementary allocations are typically introduced to address unforeseen emergency expenditures or to adjust the categorisation of existing allocations. Despite this new spending, the government has assured that it remains within the expenditure and debt limits established in the 2024 Budget. Majority of the allocations amounting to LKR 188.9 billion (86%) was obtained by the government through its own funding and LKR 30.5 billion (14%) was provided by foreign entities. A significant portion of the funding—LKR 188.9 billion (86%)—comes from the government’s own resources, while the remaining LKR 30.5 billion (14%) is provided by foreign entities. Of the total, LKR 130 billion is designated to cover interest subsidies on CPC's debt. This allocation, according to the government, represents a reclassification of the interest loss component from the previously incurred LKR 450 billion used to recapitalise banks impacted by CPC's debt restructuring. Exhibit 1: Details of all supplementary allocations including agency to which is allocated # Supplementary Allocation Agency Estimate (LKR Million) 1 To Public Enterprise to pay interest subsidies for restructuring Ceylon Petroleum Corporation's debt. Department of Public Enterprise 130,000 2 To help banks cover extra interest costs for senior citizen savings. Department of Development Finance 32,641 3 To the Treasury Operations to cover exchange losses on dollar accounts due to a stronger rupee. Department of Treasury Operations 18,000 4 To account for the fuel donated by Japan for health sector needs and customs duty payments. Minister of Health 10,826 5 To cover the cost of school uniform fabric donated by China. Minister of Education 9,829 6 To the Air Force to cover the value of two airplanes from the USA and related taxes. Sri Lankan Airforce 8,331 7 To the Ministry of Finance to reimburse payments to consultants for debt restructuring. Minister of Finance, Economic Stabilization and National Policies 3,213 8 To increase the daily allowance for students’ school nourishment program from Rs. 85 to Rs. 110. Minister of Education 1,800 9 To help small-scale fishermen in the north and east through aid from China. Minister of Fisheries 1,533 10 To increased pension allowances for retirees. Department of Pensions Operations Activities 1,400 11 To cover rising food costs and more inmates in prisons. Department of Prisons 1,400 12 To increase provision to the Ministry of Defence to compensate for restoring properties damaged by natural disasters. Minister of Defence 400 Total 219,373
Featured Insight
Government introduces new expenditure and relief through supplementary budget
On 05 December 2024, the government presented supplementary estimates totalling LKR 219.4 billion for the year, which was not included in the original 2024 budget. Supplementary allocations are typically introduced to address unforeseen emergency expenditures or to adjust the categorisation of existing allocations. Despite this new spending, the government has assured that it remains within the expenditure and debt limits established in the 2024 Budget. Majority of the allocations amounting to LKR 188.9 billion (86%) was obtained by the government through its own funding and LKR 30.5 billion (14%) was provided by foreign entities. A significant portion of the funding—LKR 188.9 billion (86%)—comes from the government’s own resources, while the remaining LKR 30.5 billion (14%) is provided by foreign entities. Of the total, LKR 130 billion is designated to cover interest subsidies on CPC's debt. This allocation, according to the government, represents a reclassification of the interest loss component from the previously incurred LKR 450 billion used to recapitalise banks impacted by CPC's debt restructuring. Exhibit 1: Details of all supplementary allocations including agency to which is allocated # Supplementary Allocation Agency Estimate (LKR Million) 1 To Public Enterprise to pay interest subsidies for restructuring Ceylon Petroleum Corporation's debt. Department of Public Enterprise 130,000 2 To help banks cover extra interest costs for senior citizen savings. Department of Development Finance 32,641 3 To the Treasury Operations to cover exchange losses on dollar accounts due to a stronger rupee. Department of Treasury Operations 18,000 4 To account for the fuel donated by Japan for health sector needs and customs duty payments. Minister of Health 10,826 5 To cover the cost of school uniform fabric donated by China. Minister of Education 9,829 6 To the Air Force to cover the value of two airplanes from the USA and related taxes. Sri Lankan Airforce 8,331 7 To the Ministry of Finance to reimburse payments to consultants for debt restructuring. Minister of Finance, Economic Stabilization and National Policies 3,213 8 To increase the daily allowance for students’ school nourishment program from Rs. 85 to Rs. 110. Minister of Education 1,800 9 To help small-scale fishermen in the north and east through aid from China. Minister of Fisheries 1,533 10 To increased pension allowances for retirees. Department of Pensions Operations Activities 1,400 11 To cover rising food costs and more inmates in prisons. Department of Prisons 1,400 12 To increase provision to the Ministry of Defence to compensate for restoring properties damaged by natural disasters. Minister of Defence 400 Total 219,373
Featured Insight
Government introduces new expenditure and relief through supplementary budget
On 05 December 2024, the government presented supplementary estimates totalling LKR 219.4 billion for the year, which was not included in the original 2024 budget. Supplementary allocations are typically introduced to address unforeseen emergency expenditures or to adjust the categorisation of existing allocations. Despite this new spending, the government has assured that it remains within the expenditure and debt limits established in the 2024 Budget. Majority of the allocations amounting to LKR 188.9 billion (86%) was obtained by the government through its own funding and LKR 30.5 billion (14%) was provided by foreign entities. A significant portion of the funding—LKR 188.9 billion (86%)—comes from the government’s own resources, while the remaining LKR 30.5 billion (14%) is provided by foreign entities. Of the total, LKR 130 billion is designated to cover interest subsidies on CPC's debt. This allocation, according to the government, represents a reclassification of the interest loss component from the previously incurred LKR 450 billion used to recapitalise banks impacted by CPC's debt restructuring. Exhibit 1: Details of all supplementary allocations including agency to which is allocated # Supplementary Allocation Agency Estimate (LKR Million) 1 To Public Enterprise to pay interest subsidies for restructuring Ceylon Petroleum Corporation's debt. Department of Public Enterprise 130,000 2 To help banks cover extra interest costs for senior citizen savings. Department of Development Finance 32,641 3 To the Treasury Operations to cover exchange losses on dollar accounts due to a stronger rupee. Department of Treasury Operations 18,000 4 To account for the fuel donated by Japan for health sector needs and customs duty payments. Minister of Health 10,826 5 To cover the cost of school uniform fabric donated by China. Minister of Education 9,829 6 To the Air Force to cover the value of two airplanes from the USA and related taxes. Sri Lankan Airforce 8,331 7 To the Ministry of Finance to reimburse payments to consultants for debt restructuring. Minister of Finance, Economic Stabilization and National Policies 3,213 8 To increase the daily allowance for students’ school nourishment program from Rs. 85 to Rs. 110. Minister of Education 1,800 9 To help small-scale fishermen in the north and east through aid from China. Minister of Fisheries 1,533 10 To increased pension allowances for retirees. Department of Pensions Operations Activities 1,400 11 To cover rising food costs and more inmates in prisons. Department of Prisons 1,400 12 To increase provision to the Ministry of Defence to compensate for restoring properties damaged by natural disasters. Minister of Defence 400 Total 219,373
Featured Insight
Government introduces new expenditure and relief through supplementary budget
On 05 December 2024, the government presented supplementary estimates totalling LKR 219.4 billion for the year, which was not included in the original 2024 budget. Supplementary allocations are typically introduced to address unforeseen emergency expenditures or to adjust the categorisation of existing allocations. Despite this new spending, the government has assured that it remains within the expenditure and debt limits established in the 2024 Budget. Majority of the allocations amounting to LKR 188.9 billion (86%) was obtained by the government through its own funding and LKR 30.5 billion (14%) was provided by foreign entities. A significant portion of the funding—LKR 188.9 billion (86%)—comes from the government’s own resources, while the remaining LKR 30.5 billion (14%) is provided by foreign entities. Of the total, LKR 130 billion is designated to cover interest subsidies on CPC's debt. This allocation, according to the government, represents a reclassification of the interest loss component from the previously incurred LKR 450 billion used to recapitalise banks impacted by CPC's debt restructuring. Exhibit 1: Details of all supplementary allocations including agency to which is allocated # Supplementary Allocation Agency Estimate (LKR Million) 1 To Public Enterprise to pay interest subsidies for restructuring Ceylon Petroleum Corporation's debt. Department of Public Enterprise 130,000 2 To help banks cover extra interest costs for senior citizen savings. Department of Development Finance 32,641 3 To the Treasury Operations to cover exchange losses on dollar accounts due to a stronger rupee. Department of Treasury Operations 18,000 4 To account for the fuel donated by Japan for health sector needs and customs duty payments. Minister of Health 10,826 5 To cover the cost of school uniform fabric donated by China. Minister of Education 9,829 6 To the Air Force to cover the value of two airplanes from the USA and related taxes. Sri Lankan Airforce 8,331 7 To the Ministry of Finance to reimburse payments to consultants for debt restructuring. Minister of Finance, Economic Stabilization and National Policies 3,213 8 To increase the daily allowance for students’ school nourishment program from Rs. 85 to Rs. 110. Minister of Education 1,800 9 To help small-scale fishermen in the north and east through aid from China. Minister of Fisheries 1,533 10 To increased pension allowances for retirees. Department of Pensions Operations Activities 1,400 11 To cover rising food costs and more inmates in prisons. Department of Prisons 1,400 12 To increase provision to the Ministry of Defence to compensate for restoring properties damaged by natural disasters. Minister of Defence 400 Total 219,373
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பொதுச் சுகாதாரத் துறை தொடர்பான அரசாங்க செலவினங்களின் சமீபத்திய போக்குகள் மற்றும் முன்னேற்றங்கள்.
Sanitary Napkins: Subjected to Unreasonably High Taxes
The total tax burden on Sanitary napkins is 47.1%, this is significantly higher than the tax burden of selected non-essentials items, gold jewelry, raw silk, golf clubs and golf balls and military artill...
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
Sunday Times
Loss of Rs. 125m by giving PCR contract to a parti...
Disregarding average market prices, PCR testing kits had been bought from a bidder who quoted a higher price at the outbreak of the COVID-19 pandemic, thus causing a financial loss of more than Rs. 125 million, the Auditor General’s 20...
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Source:
Ceylon Today
Govt has spent Rs 262B to fight COVID-19 – PM
It has been revealed the Government has spent approximately Rs 262 billion for the control and suppression of COVID-19 in Sri Lanka, Prime Minister Mahinda Rajapaksa said on Wednesday (30).
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Source:
Daily News
Australia provides Rs. 952 m to strengthen COVID t...
The Australian Government has donated Rs.952 million worth of essential respirators to strengthen COVID treatment services. A stock of essential medical equipment including oxygen cylinders was handed over to the Minister of Health Pavithra Wanniarachchi yesterday...
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Sri Lanka’s health expenditure is laggin...
Sri Lanka’s public health expenditu...
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சர்வதேச நாணய நிதியத்தின் உறுப்புரை IV அறிக்கை – மு...
சர்வதேச நாணய நிதியத்தின் ஒப்பந்தத்தின் உறுப்புரை IVன்
மேலும் வாசிக்க
The Cost of a Kevili Table in 2023
This Avurudu, the cost of preparing a Kevili table has risen by 2.4 times since 2019. The basket of items one would usually find at Kevili table vary between households. Public Finance.lk used the following: Kokis...
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Highlights from the Appropriation Bill for 2024
The Appropriation Bill for 2024 was presented to Parliament on the 5th of October, ahead of the budget speech in November.The Appropriation Bill shows that there is a 12% increase in expenditure planned for 2024. Interest pay...
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