The Budget which will be presented today by President will provide benefits to the working class people, especially the public sector the Media Minister told news.lk a short while ago.

Sri Lanka President Mahinda Rajapaksa as Minister of Finance will present budget for the year 2013 when Parliament meets today. The Cabinet of Ministers had approved the US$ 19.5 billion Appropriation Bill 2013 at the Cabinet meeting held on Wednesday September 26.

Budget 2013 is expected to contain fiscal proposals that will accelerate the post - war development drive and consolidate the firm economic foundation laid by the seven previous budgets presented by the President, Finance Ministry sources said.

The country achieved several long term economic benefits as a result of the prudent fiscal policies laid down in the previous budgets presented by President Rajapaksa.

The first reading of the Appropriation Bill was presented on October 09 by the leader of the House.

The President and the General Treasury had consulted each line Ministry and other stakeholders in the preparation of the Appropriation Bill in order to formulate a realistic budget.

Emphasis has been given for the priorities identified under the Medium Term Expenditure Framework 2013-2015 and for the completion of development activities which have already been commenced and are on going.The government targets to maintain an economic growth rate of 7% while containing the annual inflation rate under 7%.

The second reading on the Appropriation Bill will commence on Friday 09 and continue till November 17 (seven allotted days). The vote on second reading will take place on November 17 at 6.00pm.

The committee stage debate will begin on November 19 and continue until December 8 (16 allotted days) including Saturdays. Parliament has resolved that a Select Committee be appointed to discuss the Heads of Expenditure of Ministries selected from the Budget Estimates of the year 2013. Accordingly, the expenditures of such ministries will be taken for debate together on December 4th and 5th.

During the period of the second and the third readings, the House will meet at 9.30 in the morning and will continue till 6.30 pm and the final vote on the budget (third Reading) will take place on December 8.