BUDGET CHANGED
By Gagani Weerakoon
Prime Minister D. M. Jayaratne presented an amendment to Appropriation Bill 2015, seeking the approval, of Parliament, to increase the government's expenditure by Rs 356 billion and to enhance the borrowing limit, of the government, by Rs 440 billion.
Accordingly, the Bill titled 'Appropriation Bill 2015-Amendments in Committee' seeks to delete the words 'rupees one thousand eight hundred twelve billion two hundred ninety two million seven hundred eighteen thousand' (Rs 1,812,292,718,000) and submit 'rupees two thousand one hundred sixty eight billion two hundred ninety two million seven hundred eighteen thousand' (Rs 2,168,292,718,000).
"The effect of this amendment, brought by the Prime Minister and Minister of Buddha Sasana and Religious Affairs, is to increase the maximum borrowing limit of the government in 2015 from Rs 1,340 billion to Rs 1,780 billion as per the budget speech, the Bill said.
Meanwhile, UNP MP Dr. Harsha de Silva, joining the debate, said it is extremely suspicious that the government is trying to increase the budgetary allocations made to the Ministry of Defence and Urban Development by Rs 256 billion within a lapse of just one week of the Budget 2015 being presented to the House.
"Not only that, the government is seeking to increase borrowings by Rs 440 billion. Urban Development Authority carry out projects but money has not been allocated under its Head of expenditure. So they take loans from outside and continue their projects," Dr. de Silva charged. Responding, Chief Government Whip, Minister Dinesh Gunawardena, asked whether it is possible or not for a statutory institution to take loans on its properties and expenditure.
"You can, but the balance sheet should have a required value, which is not the case when it comes to UDA. Just because people are poor, you must not take away their right to whatever the properties they have," Dr. de Silva responded.
Prime Minister D. M. Jayaratne presented an amendment to Appropriation Bill 2015, seeking the approval, of Parliament, to increase the government's expenditure by Rs 356 billion and to enhance the borrowing limit, of the government, by Rs 440 billion.
Accordingly, the Bill titled 'Appropriation Bill 2015-Amendments in Committee' seeks to delete the words 'rupees one thousand eight hundred twelve billion two hundred ninety two million seven hundred eighteen thousand' (Rs 1,812,292,718,000) and submit 'rupees two thousand one hundred sixty eight billion two hundred ninety two million seven hundred eighteen thousand' (Rs 2,168,292,718,000).
"The effect of this amendment, brought by the Prime Minister and Minister of Buddha Sasana and Religious Affairs, is to increase the maximum borrowing limit of the government in 2015 from Rs 1,340 billion to Rs 1,780 billion as per the budget speech, the Bill said.
Meanwhile, UNP MP Dr. Harsha de Silva, joining the debate, said it is extremely suspicious that the government is trying to increase the budgetary allocations made to the Ministry of Defence and Urban Development by Rs 256 billion within a lapse of just one week of the Budget 2015 being presented to the House.
"Not only that, the government is seeking to increase borrowings by Rs 440 billion. Urban Development Authority carry out projects but money has not been allocated under its Head of expenditure. So they take loans from outside and continue their projects," Dr. de Silva charged. Responding, Chief Government Whip, Minister Dinesh Gunawardena, asked whether it is possible or not for a statutory institution to take loans on its properties and expenditure.
"You can, but the balance sheet should have a required value, which is not the case when it comes to UDA. Just because people are poor, you must not take away their right to whatever the properties they have," Dr. de Silva responded.
