New president rejects Sri Lanka budget

Sri Lanka's new President Mahinda Rajapakse Saturday announced he would ditch the national budget for 2006 pending before parliament after it was presented by his predecessor two weeks ago. Sri Lanka's new President Mahinda Rajapakse Saturday announced he would ditch the national budget for 2006 pending before parliament after it was presented by his predecessor two weeks ago. Shortly after he was sworn in as the fifth executive head of state, Rajapakse said he would also have a brand new cabinet and unveil a new budget that will incorporate the election promises he made in his manifesto.

"I have decided to bring before parliament new budget proposals based on the 'Mahinda Chintanaya' (my philosophy)," he said.

"I believe it is necessary to begin my term of office with the people's confidence in me intact.
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The opposition had criticised the ruling party for presenting a budget which made no financial provisions to implement a plethora of subsidies Rajapakse was offering in his manifesto.

Rajapakse was prime minister when the budget was presented on November 8. A vote on it had been scheduled for later this month.

The new dates for the budget were not immediately known. <