Cabinet Approves 2026 Budget Proposal

COLOMBO (News 1st); President Anura Kumara Dissanayake has received Cabinet approval to present the 2026 Budget Proposal to Parliament today (7).

The proposal marks a key milestone in Sri Lanka’s fiscal planning for the upcoming year and is part of the government’s broader strategy for economic recovery and development.

The budget outlines an ambitious expenditure plan of Rs. 4,434 billion for the fiscal year 2026, reflecting the administration’s priorities in economic recovery, public welfare, and institutional reform.

The Appropriation Bill, which details the allocation of funds across ministries, was tabled in Parliament on October 26 by Deputy Finance Minister Prof. Anil Jayantha. 

The largest allocation—Rs. 634 billion—is earmarked for the Ministry of Finance.

Other key allocations include:

Rs. 554 billion for Health and Mass Media
Rs. 455 billion for Defence
Rs. 618 billion for Provincial Councils and Local Government
Rs. 596 billion for Public Administration
Rs. 301 billion for Education, Higher Education, and Vocational Training

The budget debate will unfold in three phases:

Second Reading Debate: November 8–14, with the vote scheduled for 6 PM on November 14

Committee Stage Debate: November 15–December 5, spanning 17 days including 3 Saturdays

Third Reading Vote: 6 PM on December 5