Sri Lanka, Feb. 17 -- President Anura Kumara Dissanayake outlined a series of cost-cutting measures aimed at managing public expenditure as part of the 2025 budget proposals.

Delivering 2025 Budget Speech in Parliament, the President emphasized the government's commitment to financial discipline, particularly in reducing unnecessary spending by public representatives.

Among the key reforms, the President assured a comprehensive review of allowances and benefits provided to the Members of Parliament. As part of this effort, the insurance coverage for public representatives, previously set at Rs. 1 million, will be reduced to Rs. 250,000.

To further reinforce fiscal responsibility, the Cabinet has been limited to 21 ministers, setting an...