Today I heard about a grand wedding of an Indian tycoon (Ambani's son) from a friend of mine, and he showed me some videos of it too. He said famous and powerful people from around the world have been invited to it, and the cost of the event was going to be several Billions (of Indian Rupees or USD, I don't know). If you think about it, India is a country with a higher population of substandard living conditions. There are innocent and miserable children who are forced to work for a mere subsistence, being deprived of education, health facilities, and food and water. I remember a movie based on a true story in which Akshey Kumar was playing the leading role where he makes sanitary towels (pads) for poor women who could not afford it. In such a country, a single wedding event spends billions of money. What a crappy world we are living! You could imagine how much wealth this family has amassed. On the other, this "mental disease" of exorbitant spending must be highly we
CHAPTER XXXVI
FINANCE
300.
Parliament shall have full control over public
finance. No tax, rate or any other levy shall be imposed by any local authority
or any other public authority, except by or under the authority of a law passed
by Parliament or of any existing law.
301. (1) The funds of the Republic not allocated by law to specific purposes shall form one Consolidated Fund into which shall be paid the produce of all taxes, imposts, rates and duties and all other revenues and receipts of the Republic not allocated to specific purposes.
(2) The interest on the public debt, sinking fund payments, the costs, charges
and expenses incidental to the collection, management and receipt of
Consolidated Fund and such other expenditure as Parliament may determine shall
be charged on Consolidated Fund.
(3) The Minister of Finance shall present to Parliament a monthly Statement of
the detailed expenses and income of Consolidated Fund.
302. (1) Save as otherwise expressly provided in paragraphs (3), (4) and (5) of this Article, no sum shall be withdrawn from Consolidated Fund except under the authority of a warrant under the hand of the Minister of Finance.
(2) No such warrant shall be issued unless the sum has by resolution of
Parliament or by any law been granted for specified public services for the
financial year during which the withdrawal is to take place or is otherwise
lawfully, charged on Consolidated Fund.
(3) Where Parliament is dissolved before the Appropriation Bill for the
financial year has passed into law, President may, unless Parliament shall have
already made provision, authorize the issue from Consolidated Fund and the
expenditure of such sums as he may consider necessary for the public services
until the expiry of a period of three months from the date on which the new
Parliament is summoned to meet.
(4) Where Parliament is dissolved and a date is fixed for a General Election
President may, unless Parliament has already made provision in that behalf,
authorize the issue from Consolidated Fund and the expenditure of such sums as
he may, after consultation with Elections Commission, consider necessary for
such elections.
(5) The Minister of
Finance, if satisfied that there is need for any urgent or unforeseen expenditure
and that no provision for such expenditure exists, may, with the consent of
President, authorize provision to be made therefore by an advance from Consolidated
Fund:
Provided that as soon as possible after every such advance, a
Supplementary
Estimate shall be presented to Parliament for the purpose of replacing the
amount so advanced.
303.
No Bill or motion, authorizing the disposal of,
or the imposition of charges upon, Consolidated Fund or other funds of the
Republic, or the imposition of any tax or the repeal, augmentation or reduction
of any tax for the time being in force shall be introduced in Parliament except
by a Cabinet Minister, and unless such Bill or motion has been approved by
Cabinet of Ministers.
304.
The salaries, allowances, pensions paid to
President, Vice President, Prime Minister, Cabinet Ministers, Governors, Deputy
Ministers, Speaker, Members of Parliament, Members of Local Councils, Judges of
courts, members of Constitutional Council, members of Independent Commissions,
public service shall be charged on Consolidated Fund.
305.
(1) The National Currency of the Republic shall
be Sri Lankan Rupee (LKR), and one hundredth of which shall be a Cent.
(2) Sri Lankan Rupee shall be a legal tender in the country.
(3) For the purpose of calculation of salary, allowance, pension, fines and
penalties, fees, cost of living, and in case a non-inflationary and
non-deflationary monetary unit is required or desired, “Specific Sri Lankan
Rupee (LKRS)” shall be used therefor, and the Specific Sri Lankan Rupee shall
be defined by the Central Bank in consultation with the experts in finance.
LKRS shall not be a legal tender, and its sole purpose is for statistics and
uniform calculations of consideration or value adjusted for inflation or
deflation such that LKRS shall have the same value throughout time.
(4) The Central Bank shall biannually determine the conversion rate between the
Sri Lankan Rupee and the Specific Sri Lankan Rupee. The Base Year of the LKRS
shall be the year 2020.
(5) The State and State entities shall calculate cost of living, fines imposed
for breach of laws and regulations, fees for government services, salaries,
wages and allowances in terms of LKRS.