During his budget speech to Parliament, President Ranil Wickremesinghe unveiled several key increases in allowances aimed at providing financial relief to specific demographic groups. These adjustments signify the government's commitment to addressing the cost of living and improving the welfare of vulnerable segments of the population.
The announced increases are as follows:
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Cost of Living Allowance for Pensioners (Increase of Rs.2,500): Pensioners are set to receive a boost in their Cost of Living allowance, with an increase of Rs.2,500. This adjustment aims to alleviate financial pressures faced by retired individuals.
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Allowance for Senior Citizens (Increase from Rs.2000): The allowance for senior citizens is set to see a significant rise from its current level of Rs.2000. This increase is expected to enhance the financial well-being of the elderly population.
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Allowance for Disabled & Kidney Patients (Increase from Rs.5000 to Rs.7500): The allowance for individuals facing disabilities and kidney-related health challenges will witness an increase from Rs.5000 to Rs.7500. This measure is designed to better support those grappling with specific health issues.
President Wickremesinghe's budget speech is ongoing, and additional updates on key policy decisions, developmental initiatives, and economic measures are anticipated. Stay tuned for comprehensive coverage and analysis of Budget 2024.
