Committee reduces proposed budget to MVR 17.7 billion

The budget review committee of the parliament has deducted MVR 246 million from the proposed budget for 2014, reducing it to MVR 17.77 billion.

The committee had earlier increase the initially proposed budget of MVR 17.5 million to MVR 18.2 billion.

Vilufushi MP Riyaz Rasheed shared the changes brought during the budget review committee meeting, which was closed-off from the media today.

According to MP Riyaz Rasheed, the additional MVR 276 million includes MVR 75 million for independent institutions, MVR 40 million for the parliament, MVR 18 million for the Auditor General’s Office and an additional MVR 50 million for Public Sector Investment Programs (PSIPs).

Former president Dr Mohamed Waheed’s administration had proposed a budget of MVR 16.4 billion for 2014, which was increased following a revision by the new administration, which had included several programs to fulfill campaign pledges.