Supplementary budget resubmitted to Parliament

Finance Ministry has submitted the supplementary budget of MVR 6.5 billion, which was sent back by the parliament for amendments on Tuesday. 

The Ministry resubmitted the supplementary budget to Parliament, a day later, on Wednesday. 

Parliamentary Communications Director Hassan Ziyau told Sun on Thursday that the parliament, has now, commenced efforts to ensure the resubmitted supplementary budget includes all the necessary details this time.

The supplementary budget had to be re-submitted because it was initially submitted without the details stipulated in the Finance Act.

This marks the second time the supplementary budget has been resubmitted after parliament asked for amendments. 

When the budget was submitted initially, the parliament secretariate had asked the ministry to resubmit with the necessary details. When resubmitted, it still did not include all the details required by the Finance Act. 

Debate on the supplementary was slated on the agenda for Tuesday's sitting, after the initial resubmission. However, the session could not be held as the 22 members required to meet the quorum were not present.

The supplementary budget submitted includes MVR 3.1 billion for recurrent expenditure and MVR 3.3 billion for capital expenditure.

The allotment for recurrent expenditure includes MVR 1.8 billion for subsidies, MVR 1.2 billion for Aasandha – which will increase the budget allocated for Aasandha this year to MVR 2.3 billion.

Meanwhile, the allotment for capital expenditure includes MVR 1.7 billion for PSIP projects.

With the MVR 6.5 billion supplementary budget, the state budget for 2023 will rise to MVR 49.3 billion.