Cabinet Spokesman and Mass Media Minister Dr. Bandula Gunawardena yesterday said that the proposal presented by Prime Minister Ranil Wickremesinghe to present a new Budget for 2022 was approved by the Cabinet.
The minister announcing the Cabinet decisions held at the Government Information Department said that due to the devaluation of the exchange rate and the rise in inflation, as well as the shortage of essential commodities such as fuel, gas and electricity,
it has become difficult to maintain the normal life of the people. Minister Gunawardena said that due to the serious financial crisis in the country at present, the expected objectives of the Budget document presented for 2022 cannot be fulfilled and those recurrent and capital expenditures will have to be revised.
The Cabinet has approved the implementation of tax reforms with the aim of increasing income for economic stability.
courtesy dailynews.lk
