Tamil Diplomat

Finance Minister presents maiden budget of Govt

Finance Minister Ravi Karunanayake has presented the maiden budget of the present government in the House. He has announced several measures of relief to the ordinary man.

Earlier yesterday, he briefed President Maithripala and Prime Minister Ranil Wickremasinghe of the key features of the Budget.

According to the Budjet submitted today:

To foster Micro, Small & Medium entrepreneurs, Venture Capital investments will be encouraged to provide equity investments and provide technical and monetary support.

A certified price for rice to be set to so that consumers will be able to buy a kilo of rice for Rs. 65.  Accordingly certified price for Keeri Samba set at Rs. 50, Samba at Rs.41 and Nadu rice at Rs.38.

Rs. One million life insurance scheme to be introduced for fisherme.   Rs. 750 million will be set aside to upgrade selected fisheries harbours.

The maximum retail price of a 400g packet of locally produced milk powder reduced from Rs. 325 to Rs. 295.

Fifty licenses to be issued for Gold importers to import gold sans a import duty.  No one will be allowed to import gold henceforth without such a license.

100,000 houses to be to be built in 5 years for slum dwellers and low income groups.  The project will be funded by Government and the Private sector.

Taxes will be removed for leasing of lands to foreigners. Tax exemptions will be afforded for new foreign direct investments.