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The Constitution of Sri Lanka has been the constitution of the island nation of Sri Lanka since its original promulgation by the National State Assembly on 7 September 1978. It is Sri Lanka's second republican constitution and its third constitution since the country's independence (as Ceylon) in 1948, after the Donoughmore Constitution ...
Government of Sri Lanka; Official Website of the Treasury of Sri Lanka; The Lakshman Kadirgamar Institute of International Relations and Strategic Studies; A Sri Lankan Diplomatic Success Story in the 18th Century
The tax revenue to GDP ratio is just about 11.6 percent as of 2018, which is one of the lowest rates among the upper-middle income earning countries. [2] At present, the government of Sri Lanka also face major challenges regarding the continuous budget deficits where government expenditures have exceeded the government tax revenue. [3]
Sri Lanka's new government will release the 2023 budget on Monday focused on boosting revenue, implementing tax reforms and fiscal consolidation to secure an IMF bailout package to help the ...
Sri Lanka unveils a budget on Monday attempting to put the South Asian government's finances in order, with reforms to advance a $2.9 global billion bailout from the island's worst financial ...
COLOMBO (Reuters) -The crisis-hit Sri Lankan economy can turn around by the end of 2023 if budget policies, which are not limited to the International Monetary Fund's recommendations, are followed ...
Canon of surplus – public revenue should exceed government expenditure, this avoiding a deficit. Government must prepare a budget to create a surplus. [8] Three other canons are: Canon of elasticity – it says there should be enough scope in expenditure policy.government should be able to increase or decrease it according to the period.
Public budgeting aims to allocate and manage government resources in a manner that maximizes their effectiveness and efficiency to attain public objectives and advance the welfare of the community. Furthermore, it also fosters accountability, transparency, and public participation in the budget process to ensure that government decisions align ...