Several recommendations of Finance Commission receive Cabinet approval

Several recommendations made by the Finance Commission to President Ranil Wickremesinghe have received the green light from the Cabinet of Ministers.

The Finance Commission, established under Article 154R of the Constitution in a bid to achieve a balanced regional development, had made several recommendations for the year 2024, including those regarding the assessment of provincial, 
capital and recurrent requirements, allocation of State grants among Provincial Councils and the allocation of resources in a more meaningful way for Provincial Councils and the efficient use of said resources.

As such, the Cabinet also gave the go-ahead for the report, compiled by the Finance Commission comprising said recommendations for the year 2024, to be presented before the Parliament, as per the provisions of Article 154 R(7) of the Constitution.

The Finance Commission was established to assess the provisions required for the provincial councils and to make recommendations for providing more meaningful allocations to provincial councils from the National Budget.