67th Annual Budget Proposals Presented To The Parliament

*The Cost Of Living Allowance of all Government Sector Employees to be increased by Rs.1200 with effect from January 2014

*Rs.350 increment for Pensioners

*Defense spending to be increased by Rs.249 billion for the year 2014

*The Academic Allowance of all university lecturers to be increased by 5% of their basic salary

*Women Entrepreneurs up to the  the age 68 to be received interest free loans up to Rs.250,000

*Uniform Allowance Of Hospital Staff to be increased to Rs.1500 from Rs.500

*National Stroke Center to be setting up ,New Naval and Marine University to be established

*Two Children's Hospitals to be upgraded as research centers

 *License of transporting the Furniture  Cancelled

*Pension Scheme for Farmers age over 63

*Leasing Agreement for foreigners to obtain local lands

were among some key proposals included in the  67th Annual Budget Proposals presented to the Parliament today(21) by President Mahinda Rajapaksha who is also the finance minister of this government.

One of the major proposals presented under the 2014 budget proposals is the allocating more money for the defense expenditure next year.according to the proposals 16.5% out of the total estimated expenditure for 2014 Rs.1542 billion are allocating for the defense budget.

While presenting annual budget proposals to the parliament president rajapaksha has said that country's economy has achieved a 7.7% economic growth in the third quarter this year when
comparing to the third quarter of last year (2012) which is 6.4%.

The budget debate will goes on till  29th of November and final vote will take place on 20th of December.