News Today: Sri Lanka Budget 2025: Key priorities, development plans & economic growth strategies

The NPP Government’s maiden Budget 2025 is set to be presented today, with a strong emphasis on eliminating rural poverty, boosting export income, and ensuring high economic growth in agriculture, industry, and services. The Finance Ministry has confirmed that the Appropriation Bill 2025 will be presented to Parliament by President Anura Kumara Dissanayake at 10:30 AM, marking a significant step in Sri Lanka’s economic transformation.

Key Highlights of Budget 2025

A senior official from the Finance Ministry has stated that this Budget will focus on a new development direction for Sri Lanka. The proposals aim to address key economic challenges while fostering long-term sustainability.

Major Areas of Focus:

• Economic Growth & Tax Reforms: Enhancing tax administration to boost revenue and encourage investments.
• Digital Transformation: Accelerating Sri Lanka’s digital economy to improve governance and service delivery.
• Public Enterprises & Infrastructure: Revamping loss-making public enterprises and investing in national infrastructure projects.
• Salaries & Employment: Increasing salaries for public sector employees and promoting job opportunities.
• Industry Revival: Implementing strategies to revive collapsed industries and strengthen manufacturing and services.
• Rural Development: Special focus on eradicating poverty and improving livelihoods in rural areas.

Parliamentary Schedule for Budget 2025

The Appropriation Bill 2025 was initially presented in Parliament for the First Reading on January 9, 2025. The Second Reading (Budget Speech) takes place today, with the debate scheduled from February 18 to March 21, 2025.

• Second Reading Debate: February 18–25
• Vote on Second Reading: February 25 at 6:00 PM
• Committee Stage Debate: February 27–March 21 (including four Saturdays)
• Final Vote on Third Reading: March 21 at 6:00 PM

During this period, Parliamentary sessions will allocate time for oral answers to questions from 9:30 AM to 10:00 AM, followed by the Budget Debate from 10:00 AM to 6:00 PM. Additionally, motions at adjournment time will be addressed from 6:00 PM to 6:30 PM, except on February 25 and March 21, when voting takes place.

Impact on Sri Lanka’s Economy

The 2025 Budget aims to create a progressive financial framework that will support economic stability and development. By focusing on digital transformation, tax efficiency, and rural economic empowerment, the government envisions a stronger and more resilient Sri Lankan economy.