Finance Minister Mangala Samaraweera said Rs 1.25 Billion would be allocated to establish medical faculties in Moratuwa, Sabaragamuwa and North Western universities. 

In his maiden budget speech, the Finance Minister also said a Post-graduate institute will be set up for indigenous medicine. 

"Seven new technological faculties will be set up in state universities. The university system will be upgraded to meet international standards," the Finance minister added. 

The government, according to the Finance Minister, has allocated Rs. 750 million for the smart classroom programme. 

He also stated that a special medical scheme would be introduced for university students.