2024 Budget Proposal Progress: Majority of the Proposals With Less Than 80% Financial Utilisation

Abstract

In November 2023, the then Finance Minister, President Ranil Wickremesinghe, presented 50 expenditure budget proposals with a value of LKR 212,740 million to Parliament. Of these, 24 proposals worth over LKR 500 million had publicly available information and were assessed for progress.

Results indicate that five proposals (20.8%) achieved over 80% financial progress. These included initiatives like raising the Monthly Cost of Living Allowance for Public Sector employees and Pensioners, as well as programs for Persons with Disabilities, Elderly Citizens, and Kidney Patients, the Decentralised Budget, and the "Kandukara Doshakoya" Integrated Village Development Program, all of which reached 100% completion. The project for developing the University of Peradeniya showed progress of 89%.

Six proposals (25%) showed partial progress, ranging from 33% to 80%. Meanwhile, 9 proposals (37.5%) had minimal financial progress below 33%, and four proposals (16.7%) had not started at all, with 0% progress.