News Today: President Anura Kumara Dissanayake presents Sri Lanka’s People’s Budget 2025

President Anura Kumara Dissanayake, as Finance, Economic Stabilisation, and National Policies Minister, presented the People’s Budget 2025 to Parliament yesterday, marking the 79th budget of Independent Sri Lanka. This bold and far-reaching budget focuses on economic recovery, public welfare, and sustainable development.

Historic Allocations for Health & Education

The 2025 budget has allocated the highest-ever funding for health and education in post-independent Sri Lanka. The health sector will receive Rs. 604 billion, while education and infrastructure also see significant increases.

The Mahapola Scholarship has been increased from Rs. 5,000 to Rs. 7,500, and the Grade 5 Scholarship allowance has risen from Rs. 750 to Rs. 1,500 to support low-income students.

Major Economic & Social Initiatives

• Rs. 5,000 million has been allocated for the Clean Sri Lanka Programme to eradicate poverty.
• Rs. 100 million has been set aside to upgrade the Jaffna Public Library.
• Rs. 500 million will be invested in developing sports schools across five provinces.
• The minimum public sector salary has been increased by Rs. 15,750, raising it from Rs. 24,250 to Rs. 40,000.

Economic Growth & Fiscal Discipline

The government aims for 5% GDP growth, with a focus on debt restructuring and economic stability. Sri Lanka’s foreign reserves stand at USD 6.1 billion after repaying USD 570 million in debt.

• No vehicle permits or new vehicles will be provided for MPs to reduce unnecessary expenses.
• A new legal framework will be introduced to ensure state-owned enterprises operate free from political influence.
• A revamped Customs Law will enhance trade facilitation and revenue collection.
• Under-utilized state-owned land will be leased for productive economic activities.

Parliamentary Budget Debates & Approval Process

Following the President’s speech, the parliamentary debate on the Second Reading of the Appropriation Bill begins today and will continue for seven days until February 25th, with the vote scheduled for 6:00 p.m.

The Committee Stage Debate will last 19 days from February 27th to March 21st, concluding with the final vote on March 21st at 6:00 p.m.

A Budget for the People

President Dissanayake emphasized that the 2025 budget lays the foundation for an economy where all citizens are active stakeholders and beneficiaries.

After the budget presentation, the traditional tea party was held at Parliament, attended by government and opposition MPs as well as diplomats.