Finance Minister Ravi Karunanayake presented the budget of the new 'consensus government' for the year 2016 this afternoon.

According to the proposals presented to the parliament, the estimated total revenue and grants for the next year is Rs. 2047 billion.

Total expenditure is estimated at Rs. 2787 billion. Therefore, the budget deficit will be Rs. 740 billion.

Compared to the last year, the budget deficit has projected to be increased by Rs. 65 billion. However, unlike budget 2015, this time a revenue surplus can be seen. The revenue surplus of the  budget 2016 is estimated to Rs. 104 billion. In 2015, the revenue deficit was Rs. 180 billion.

A detailed summary of the budget 2016 can be seen below.