In all, $115 million will be spent to carry out the third phase of the Renaissance City plan.
The plan, launched eight years ago, aims to transform Singapore into a global city for the arts.
Dr Lee Boon Yang, who leads the Ministry of Information, Communications and the Arts (Mica), said the increased funding will go into three new areas:
Strengthening arts and cultural bonds in the heartlands.
In particular, Dr Lee spoke of the need to 'draw on our diversity of arts talents to create new and inspiring works which will truly reflect our multi-cultural roots'.
To that end, the National Arts Council (NAC) will start an annual fund of $700,000 to commission a body of original scripts, stories, poetry and musical and dance compositions.
These works, said the minister, should 'reflect our distinctive multi-cultural identity as well as our Asian and contemporary context'.
The council will also introduce new schemes for artists and arts companies to take part in exchanges with overseas arts organisations.
More than $1 million a year would be spent on such programmes for international exposure and networking.
Promoting the heritage of Singapore's many cultures would not be neglected, Dr Lee assured the House during the debate on his ministry's budget.
Instead, support for heritage industries like museums will be expanded.
The National Heritage Board will devote $2 million each year to train professionals in heritage research and conservation, as well as support new cultural tourism services and exhibitions to reach out to foreigners and Singaporeans.
For those exploring business ventures in the arts, the NAC will establish start-ups and co-investment schemes targeted at the likes of commercial art galleries, artist management firms and festivals.
More than $700,000 a year will be invested in this Arts Business Framework.
Going forward, Dr Lee said his ministry also hopes to bring about 'deeper engagement and ownership of the arts and culture among Singaporeans', including the heartlanders.
For that reason, NAC will spend an extra $1 million a year to promote arts in the heartlands and give grants to arts projects involving the likes of the elderly, hospitals and prisons.
These new initiatives will supplement what Mica is now doing to broaden the audience base and talent pool for the arts, as well as promote Singapore arts overseas.
Dr Lee said the Renaissance City plan has made considerable strides in promoting a vibrant arts and cultural scene, one that has earned the notice of the international media.
He quoted a survey of the world's most liveable cities done last year by current affairs and design magazine Monocle. Singapore was ranked 17.
'Today's Singapore bears little resemblance to the city of just 10 years ago. The arts scene has seen a flowering of museums, performing arts venues and galleries,' he said, quoting the magazine.
He highlighted that there are now 700 registered arts companies and groups here, almost double that of 10 years ago.
They put out some 7,400 arts events last year, which meant that 'on average, Singaporeans had a choice of over 50 arts performances and exhibitions on any one day'.
Artists are also connecting with their audiences as more Singaporeans are attending arts and cultural events than before, he added.
One in three Singaporeans take part in at least one such event a year, up from one in 10 a decade ago, according to NAC surveys.
clare@sph.com.sg